The Federal Reserve will conclude its first meeting of 2025 later today, and Chairman Powell will hold his usual afternoon press conference. Some market observers are describing this as the least suspenseful meeting of the past three years, and I agree with them. The current consensus (almost 100%) opinion is that the Fed will leave … Read more
Overview: The Federal Reserve completed its September meeting and decided to cut the fed funds rate by 50bp (.5%). Significant items: The market knew the Fed would pivot and cut at this meeting. There was substantial debate regarding the size of the cut. I had expected 25bp (.25%). The doves in the crowd calling … Read more
For two years, Wall Street pundits and asset gatherers have been screaming for the Fed to pivot to lower interest rates. Unsurprisingly, they make more money when asset prices are high. They were doing this even as the CPI was approaching double digits and when real inflation was approaching 20%. This week, Fed Chairman, Jerome … Read more
