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Many on Wall Street remain convinced that a widely expected recession is likely to roil markets once again sometime this year.
Also encouraging for investors was Powell's repeated references to disinflation - a falling rate of inflation.
"I think they do see a path where you can get that soft landing, that Goldilocks-type scenario play out," he said.
Banks and asset managers that have reiterated recession calls in recent weeks include BlackRock, Wells Fargo and Neuberger Berman.
"Do people think (rate cuts) will be in response to inflation that has been coming down or something more dramatic, in terms of economic slowdown?
REUTERS/Brendan McDermid/File PhotoOct 12 (Reuters) - Signs of stress are growing in the global financial system, sparking worries over everything from contagion between markets to ruptures in financial products.
This week alone, a gloomy report from the International Monetary Fund flagged risks of “disorderly asset repricings” and “financial market contagions” while JPMorgan chief Jamie Dimon predicted a looming recession.
Global financial conditions, which reflect the availability of funding, touched their tightest since 2009 in late September, an index compiled by Goldman Sachs showed, lifted by surging interest rates, falling equities and a soaring dollar.
“There are dollar funding shortages.”The IMF's Global Financial Stability Report, released Tuesday, also highlighted specific risks in open-end investment funds and the leveraged loan market.
U.S. Treasury Secretary Janet Yellen on Tuesday said she has not seen signs of financial instability in U.S. financial markets despite high volatility.