The Fed is hawkish (halfway), but the market does not suffer: Wall Street remains positive

There was now a certain optimism on the markets, as witnessed by the rebound of the European stock exchanges. The prevailing view was that the Federal Reserve would not act aggressively. Indeed, the market was confident that he would use tones marked by caution: after all, the economy is slowing down, the Delta variant is worrying and the Evergrande case in China creates a certain suspense. So the market was expecting a cautious Fed. Dove, as they say in the jargon. The Fed, however, held itself in the middle: it announced that …