# The two words from Jerome Powell that rocked the financial markets

> Fed Chair Jerome Powell described the rate cut as a 'midcycle adjustment' rather than the start of an aggressive easing cycle. Stocks fell sharply, the dollar hit a more than two-year high and bond yields rose.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/58014-the-two-words-from-jerome-powell-that-rocked-the-financial-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Markets repriced expectations for further cuts, strengthening the dollar and pressuring US commodity prices, including feed grains and meals priced in dollars.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-05-01 | [Here's the one word from Jerome Powell that has people raising their eyebrows](https://feedsoft.ai/events/58996-here-s-the-one-word-from-jerome-powell-that-has-people-raising-their-eyebrows.md) | +0.2% | +1.1% |
| DXY | 2019-09-30 | [Latam markets subdued as trade woes persist \| Financial Post](https://feedsoft.ai/events/57337-latam-markets-subdued-as-trade-woes-persist-financial-post.md) | -0.2% | -1.4% |
| DXY | 2018-06-29 | [BNM: Financial markets faced selling pressure in May \| Malay Mail](https://feedsoft.ai/events/64766-bnm-financial-markets-faced-selling-pressure-in-may-malay-mail.md) | -1.1% | -0.9% |
| DXY | 2024-05-06 | [Financial Markets Report - First Quarter of 2024](https://feedsoft.ai/events/30558-financial-markets-report-first-quarter-of-2024.md) | -0.1% | +0.2% |
| DXY | 2022-06-15 | [Corn, wheat, soya fall amid decline in financial markets - Markets - Business Recorder](https://feedsoft.ai/events/12701-corn-wheat-soya-fall-amid-decline-in-financial-markets-markets-business-recorder.md) | -0.9% | +2.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/07/31/the-two-words-from-jerome-powell-that-rocked-the-financial-markets.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.