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Higher for Longer – Plus Faster

This post originally appeared on March 7, 2023

This morning Jerome Powell spoke in front of Congress, and added to his usual talking points that the Federal Reserve would keep rates higher for longer. Today, noting the strong economic growth and low unemployment, Powell added that the Fed might accelerate rate increases.

People have been calling for a Fed “pivot” since last May. DKI has consistently said that the Fed will eventually pivot to lower rates, but that isn’t coming anytime soon. As of today, Powell agrees. We add to that multiple Fed Governors who have called for an increase back to 50bp rate hikes.

If you have questions about this subject or report, I’m reachable at IR@DeepKnowledgeInvesting.com.

 

Information contained in this report is believed by Deep Knowledge Investing (“DKI”) to be accurate and/or derived from sources which it believes to be reliable; however, such information is presented without warranty of any kind, whether express or implied and DKI makes no representation as to the completeness, timeliness or accuracy of the information contained therein or with regard to the results to be obtained from its use.  The provision of the information contained in the Services shall not be deemed to obligate DKI to provide updated or similar information in the future except to the extent it may be required to do so. 

The information we provide is publicly available; our reports are neither an offer nor a solicitation to buy or sell securities. All expressions of opinion are precisely that and are subject to change. DKI, affiliates of DKI or its principal or others associated with DKI may have, take or sell positions in securities of companies about which we write. 

Our opinions are not advice that investment in a company’s securities is suitable for any particular investor. Each investor should consult with and rely on his or its own investigation, due diligence and the recommendations of investment professionals whom the investor has engaged for that purpose. 

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