The market bets that Powell's press conference will start with "Good afternoon," and inflation will become a high-frequency word.
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Golden Ten Data reported on March 19 that traders on Polymarket are betting that inflation, the oil market, and energy costs will be hot topics at Federal Reserve Chair Powell’s press conference today. Here are the most popular bets on the prediction market platform so far, along with the probabilities implied by event contract prices: The probability that “Inflation” will be mentioned at least 40 times is 82%, and the probability of it being mentioned at least 50 times is 68%; the probability that “Food/Energy” will be mentioned at least 3 times is 93%; the probability that “Gold/Oil” will be mentioned is 96%. The platform also shows a 98% probability that Powell will greet attendees with his standard “Good afternoon.” Traditionally, the market “superstitiously” believes that if Powell opens with “Good afternoon,” his tone will be more hawkish; if he opens with “Hello everyone,” it tends to be more dovish.
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