He telegraphed the 75 basis point hike by a leak to Wall ST

“So, this was a twist. Powell gave the market what it wanted, but this time the market wanted tighter policy, not looser as it did in 2018. We’ll never know whether he would have bucked Wall Street because (for once) Wall Street demanded the right thing. He telegraphed the 75 basis point hike by a leak to Wall Street Journal reporter Nick Timiraos, who has evidently replaced John Hilsenrath as the new “Fed whisperer.””