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good morning you magnificent Melon Heads todays Thursday March 23 2023 stocks are up at the opening bell this morning I guess theyve had a little bit of time to digest the comments by Powell and in the background yelling yesterday Now Stocks reacted very hard to the combination of those two when they basically said hey Hal came out said rate hike and maybe weve got another raid hike on the table and that theres no rate cut in my base case is what he said right before quickly scurrying off the stage yesterday at the same time Janet Yellen said they have no plan to ensure all deposits which was kind of fishy because Yellen spent all day Tuesday jaw boning markets as if were making up this plan to ensure all deposits well it turns out that was just commentary in front of the cameras designed to reassure people that hey if these small Banks fail weve got your back well Janet Yellen said yesterday no we dont actually have anything on paper and no plan to directly do that so that exp
