The Rhyme: Warsh's Hawkish Debut Sinks Stocks & Its 2014 Echo
A new Fed chair walked into his first meeting and turned hawkish. The dot plot moved, the easing bias vanished, and the Dow dropped 500 points. We've watched this exact scene before. March 2014, Janet Yellen, three careless words at a podium, and a market that panicked over a date. The feared hike took twenty-one months, not six. Here's what the smart money did while everyone else sold the headline. The dots were wrong then. They may be again.
