Wells is indeed the inflation hawk that Yellen described, and his debut did two things:

1⃣ His communication style has completely changed, for example, the entire meeting statement is only over 130 words, less than half of what it was before, and all forward guidance on the market economy/interest rates has been completely removed from the statement.
2⃣ Wells himself refused to provide interest rate forecasts, and the dot plot is missing a key vote.
He is clearly assertive and firm in wording, but his stance is deliberately ambiguous;
Completely unlike the Fed Chair everyone expected in the first quarter of this year, who would push for rate cuts!
From the few clues available, the market has pieced together and given up hope; the expectation of rate cuts this year should be completely wiped out.
Today, all major assets are plunging, which is probably the worst performance since 1994 for a new Fed Chair’s first “Fed Day.”
I wonder what mood Trump, who helped him get the position, is in right now…