🚨 Market Insight: Powell's Accountability in Market Decline 🚨

Powell should be fully accountable for this drastic market decline. He had the task of addressing all the negative indicators, yet the market's fragility was already evident, and we were waiting on crucial data releases. We were confident in these figures, especially key data like non-farm payrolls and the unemployment rate, which followed the interest rate meeting and all showed a decline.

A few days ago, I mentioned several potential bad signals but chose not to elaborate, believing Powell wouldn't overlook them. I assumed he had access to more comprehensive data than we do and would manage market expectations accordingly. However, today's data release was completely mishandled by him. This isn't a preventive rate cut—it's a situation where the market has started to anticipate a recession, with all negative factors already in play.

Back in 2021, Powell allowed inflation to surge before rapidly cutting interest rates to curb it. Now, in 2024, he has once again waited until all the bad signals are evident before acting. Collecting all these adverse indicators before deciding on a rate cut has left a significant impact, and it's a stark reminder of his missteps.

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