Having jawboned the market down from over 6 rate-cuts to only 3 rate-cuts (and confirmed in today's dot-plot), we suspect Fed Chair Powell will take a small victory lap over the exuberant wishful-thinkers that hoped an 'easy' Fed will come rushing back...

The question is - will Powell talk down the hawkish 'projections' of the 'dots' as he usually does... offering hope to the uber-doves once again?

<strong>Maybe the fact that financial conditions are as 'loose' now as they were before The Fed started its hiking cycle will slow Powell's dovish roll...</strong>

Watch the Fed press conference live here (due to start at 1430ET):

...he needs to explain why financial conditions are as 'loose' as they were before The Fed hiking cycle began.
{ai:summary}<p>Fed Chair Powell expected to address market expectations after reducing rate-cut projections. Will he downplay hawkish projections to reassure doves? Financial conditions remain loose despite Fed's hiking cycle. #economy</p>

Watch Live: Fed Chair Powell Explains Why The Dots 'Are Not A Forecast', But...

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