Already have an account? log in
This article is FREE for you
Create a free account and join institutional investors, analysts and strategists from the world's largest banks
By submitting your email address you agree to receive communication by email
Fed Hikes, Defying Markets, Trump As Dot Plot Shifts, 2019 Growth Projected Lower
Wednesday's Fed decision needs no introduction.
Jerome Powell has endured withering criticism from
OR, subscribe now for unlimited access
By submitting your email address you agree to receive communication by email
By submitting your email address you agree to receive communication by email
that long range prediction indicator symbol looks ominously similar to a hand with a raised middle digit
I like Powell. He’s smart and a regular guy. He is not a politician and he’s not trying to gaslight anyone. His days as head of the Fed are numbered.
The market doesn’t price in anything. The Eurodollar may as well flow into Vegas and price in that the ball will go red on the next turn on the roulette wheel because black is now the most crowded long trade on the planet. You can compare the dots from people who actually vote to determine the Federal funds rate from last year and see that they don’t know what they will do one year from the next, much less people – with no vote and no influence – who bet on what will happen in 2020. They are all casino bets. Pure froth.