Will Powell's Pivot Impact Markets?

This week Real Vision's Roger Hirst uses Refinitiv's best-in-class data to look at the pivot by Powell toward a policy that looks to reign in price, rather than support growth. This has significant implications for many of the consensus trades for 2022, which were based upon a loose policy remaining in place for much of next year. The wait for cyclical and value stocks to outperform is set to continue. The Chatter reviews the outlook for the types of policy tightening in 2022 and beyond. FTSE Russell's macro strategist Michael Hampden-Turner outlines the sequencing that we can expect and the pace of change that policymakers will pursue.