Powell has had more of an open mind than any Fed Chair since Paul Volcker.

He raised rates in 2018.

Then he gradually cut them in 2019.

Then he cut rapidly in response to COVID.

Then he led the fastest tightening cycle in modern history.

Then a lengthy pause.

Then 100bps of cuts.

Then another 9 month pause.

And now another 25bps cut.

This man is the MOST FLEXIBLE central banker ever.

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