Delayed rate hike. Especially at the end of December when a lot of investors are closing their books for the year......this is classically a time where there are fewer willing to buy in...and that is what it’s going to take.
I think despite his denials, Powell made this last cut because of political reasons. Specifically, I think he felt like he had to make the hike after Trump’s comments so as not to look like a lackey (or maybe out of pride). Trump was correct imo, but he should just shut up about this. It made things worse. Still, Powell was an idiot for raising rates and mentioning the specter of at least 2 more on the way.