Powell disappointed markets by sticking to his view that inflation and economic risks are balanced. Not in a rush to cut. Not in a rush to provide monetary stimulus. That did not help markets, though the overnight selling started with stories about increased control over chips being sold to China. I’m not sure if I’ve even seen a story circulated as much as today’s that was roughly about – “China says it’s prepared to negotiate, but it wants respect and a dedicated point of contact from the U.S. on trade.” Say sources familiar with the Chinese government. I know China ... Japan, Powell, and Academy’s Webinar