Markets Gear Up for Dreaded September

SEP 01, 2022 • 10 Min Read

Andrew Krohn + 2 others

DISCLOSURE: THE AUTHORS OF THIS REPORT HOLD POSITIONS IN BTC AND ETH. THE AUTHOR HAS NOT PURCHASED OR SOLD ANY TOKEN FOR WHICH THE AUTHOR HAS MATERIAL NON-PUBLIC INFORMATION DURING THE RESEARCH AND DRAFTING OF THIS REPORT. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE OR SELL ANY TOKEN OR TO USE ANY PROTOCOL. THE CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE INVESTMENT DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.

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📊 Food For Thought

Upon reflection of the Jackson Hole speech, Jerome Powell spent 8 minutes reiterating the core stance that the Fed is determined on fighting inflation at the expense of investors. Powell does not want to be remembered as the modern-day Arthur Burns. Even though the FOMC has telegraphed this message plenty of times at previous meetings, the market reacted violently to this speech, seemingly caught off guard by the hawkish comments made by Powell. So how should we think through the short to medium-term implications of this?

  • If the market was indeed caught off guard by the FOMC, we’re likely to see ripple effects in the market over the next several weeks. If price action is any indication, the recent bear market rally was at least fueled in part by market participants trying to front-run the Fed pivot. If we are to believe Powell’s most recent comments, the timeline for that pivot has certainl

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Andrew Krohn + 2 others