The Fed is boldly going where it was going before

With calm and poise, the Fed’s new chairman Jerome Powell delivered no surprises, no dramas, a little dose of bitter medicine, and a lot of hopes

Federal Reserve seeing mixed US economic signals. Pic: Getty

On Wednesday, whenJerome Powell, the new Chairman of the US Federal Reserve, sat down for his first press conference, the markets had been rounding up some two months of turbulence.

A week before Powell’s testimony,Morgan Stanley’s Investment Management Chief Global Strategist, Ruchir Sharma, told investors that 2018 is shaping up to be a year of global inflection, "...a year marked by a confluence of peaks" with "some cyclical and structural signs that point ...