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On the SPOT™ blog (03/08/2023) [D..]

Federal Reserve Chairman stated today (in his testimony in front of Congress) that a decision on monetary policy tightening had NOT been made yet. This perhaps is the reason why all three major US indices appeared to fluctuate this morning (as opposed to continuing yesterday's selloff). ADP's data on private payroll suggested labor market is still strong. In general, I think Feds are going to look at all the data (e.g. CPI) before their meeting and decide based on how the overall picture looks.

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