Fed Hikes 75bps: Remains “Highly Attentive” To Inflation But Cautions Economy “Softening”

Since the last FOMC Statement on June 15th, we have witnessed the biggest combined stock-bond rally in more than two decades – Stocks and bonds have soared in the last month, the dollar rallied, but gold has been clubbed like a baby seal… As Bloomberg notes, fixed-income and equity bulls are likely expecting that Fed Chair Powell’s hawkish mission will be tempered by signs inflation has peaked as an economic downturn nears – a wager not without significant