Stocks Sink, Fed Up & CVS CEO On Earnings 11/2/2022
It was a wild ride on Wall Street. Stocks initially rallying after the Federal Reserve raised interest rates by 75 basis points, but signaled it could soon slow those rate hikes, but the market sold off after Fed Chair Jay Powell was more hawkish than expected during his news conference. Atlas Merchant Capital CEO Bob Diamond weighs in on the market reaction and says he thinks the Fed will begin pausing its rate hikes when it reaches 4.5%. Bridgewater's Karen Karniol-Tambour says the market is pricing in an impossible scenario that the economy will remain strong and inflation will go away on…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.