Powell – Moderately Hawkish, The Market Reacts Bearishly

2:52 p.m. ET So far we’ve just hear Powell’s prepared remarks, there’s a Q&A session later. The initial take is moderately hawkish. Powell noted (an -d I paraphrase): “Not confident we’ve achieved stance to hit 2% inflation”  Beyond the uncertainty that the Fed may not have done enough yet, this also serves to confirm that…