Powell's Remarks on Bond Yields Send Mixed Signals on Inflation Fight
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Powell said recent bond yield rise may aid fight against inflation, but then sparked stock rally and yield retreat
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Moves show risk of relying on markets to tighten financial conditions, avoiding future Fed hikes
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Powell's remarks seemed to contradict his stance on only wanting "persistent" yield changes
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Bond yield drop may relate to "offside" investor positions being corrected
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Nuveen CIO Fed still focused on high inflation, left door open to another rate hike this year