But Fed Chair Jerome Powell dashed those hopes during his press conference when he talked about how the Fed is still extremely worried about inflation. Here’s the thing, though: Investors are paying way too much attention to what Powell and other Fed members are saying about the economy and not focusing enough on numbers that show how the economy is actually doing. So much can change and there is always a constant flood of new data (and new speeches from Fed policy makers) to digest and parse. Keep an eye on that data more than Fed speeches and volatile interest rates futures. And the fed funds rate futures are going to keep changing based on what the latest economic reports look like.

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