You couldn’t fault Wall Street for envisaging a bit of Hamlet in Jerome Powell at the Federal Open Market Committee’s June policy meeting this coming week:

Therein lies the question that the interest rate-setting Fed committee needs to answer for financial markets on Wednesday, at the conclusion of the FOMC’s two-day gathering.

Whether ’tis nobler in the mind to suffer the slings and arrows of outrageous inflation or to take arms against a sea of troubles, as Hamlet might have said if he had been a central bank governor.

Of course, no one is expecting fireworks at this coming meeting but it could still proof a pivotal point for stocks and bonds.

That is especially true with the S&P 500 index
charting-symbol=”INDEX/US/S&P US/SPX” class=”qt-chip negative” href=”https://www.marketwatch.com/investing/index/SPX?mod=MW_story_quote”>SPX,
-0.86%,
the Dow Jones Industrial Average
DJIA,
-0.75%
,
and the Nasdaq Composite Index
COMP,
-0.72%
,
hovering at, or near, record closing highs.

The…

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