Powell put

It is in direct reference to Fed Chairman Jerome Powell. Before he became chairman, wall street referred to prior heads' policies with terms like the "Greenspan put" the "Bernanke put" and the "Yellen Put". "Put" means put option.  A put option is a contract giving the option buyer the rights, but not the obligation, to sell a specified amount of an underlying security at a predetermined price within a specified time frame. Generally speaking, put option would be an insurance when the market price decrease. When you buy some stock and put option, you need to pay premium. However you can use the put option when the stock price slip. Investors expect the FRB chairman to be "put" and say "Powell put".  FRB's dual mandate is Price stability and Maximum sustainable employment. Therefore FRB have to raise the bank rate when inflation would be expected. However they can't dismiss the market.