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Fed Chair Powell ‘overdue for a press conference gaffe’: Wells Fargo

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US Federal Reserve Chair Jerome Powell attends a “Fed Listens” event in Washington, DC, on October 4, 2019.

Eric Baradat | AFP | Getty Images

On the eve of the Federal Reserve’s announcement, some on Wall Street started to get flashbacks to Chairman Jerome Powell’s past communication miscues.

“We would not be surprised if the market sells off after the FOMC partly because we think Chairman Powell may be overdue for a press conference gaffe,” Christopher Harvey, head of equity strategy at Wells Fargo Securities, said in a note to clients on Wednesday.

The central bank is widely expected to deliver a third straight rate cut on Wednesday. Powell is set to take the podium at the press conference…



Source cnbc.com

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