Dow Soars 500+ Points as Fed Chair Says Rates are Just Below 'Neutral'

In an interview with the Wall Street Journal this month, Federal Reserve Bank of Philadelphia President Patrick Harker was outright convinced that a December rate hike is not the most optimal move given the latest rumblings in the markets.

“At this point, I’m not convinced a December rate move is the right move, but I need to watch the data over the next few weeks before determining whether it is prudent to boost the cost of borrowing again.”

Previous comments by Fed Vice Chairman Richard Clarida ran parallel to Powell’s view that the economy is still robust.

“U.S. economic fundamentals are robust, as indicated by strong growth in gross domestic product and a job market that has been surprising on the upside for nearly two years,” Clarida said.

CNBC “Mad Money” host Jim Cramer said Powell’s latest comments as a less hawkish stance from his previous view and that he’s pumping the brakes on an aggressive rate-hiking policy.

For more trends in fixed income, visit the Rising Rates Channel.