Market Commentary

Fed March ’25 Meeting – Still on “Pause”

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The Federal Reserve concluded its March meeting and surprised no one by keeping the fed funds rate unchanged. Let’s go through the details:   As I type this, Jerome Powell is delivering his prepared remarks at his press conference and reiterated his typical language of being “data driven”. He’s also talking about a higher-than-usual level … Read more

Shutdown Theater

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I think the primary reason the market was up big on Friday was Senate Democrats caved and agreed to the Republican spending bill. This avoided a pending government shutdown. Even though Democrats wanted more spending, the stated reason for agreeing to the bill was that if Democrats didn’t, they feared that during the ensuing government … Read more

February CPI is 2.8%

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Overview:                   Today, we got the February Consumer Price Index (CPI) report which showed an overall increase of 2.8% for the last year and 0.2% for the month (annualizes to 2.4%). That’s below last month’s 3.0% and above the prior month’s 2.9%. Both the annual number and the monthly were 0.1% below expectations. The monthly was … Read more

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