The markets have interpreted the recent remarks of Federal Reserve Chair Jerome Powell as more dovish than the official FOMC statement, according to Mohamed El-Erian, the Chief Economic Advisor at Allianz. What Happened: El-Erian wrote on X, “Consistent with past experience, the markets are interpreting Fed Chair Powell’s remarks at his press conference as more dovish than the FOMC statement.” El-Erian shared a screenshot showing the S&P 500 index rising to 5546.69, a 2.03% surge. The index has dropped to 5,522.30 at the time of publishing this article. The Federal Reserve recently concluded a…
