Jerome Powell
A further reduction in the policy rate at the December meeting is not a foregone conclusion
Powell's comments convinced markets December rate cut was no longer a done deal, with odds plunging from over 90% to below 50%
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US dollar rallied almost 2% against other developed currencies and US 2-year Treasury yields rose from 3.5% to over 3.6%
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Recent dollar strength and rate increases could be derailed by delayed government economic data releases
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