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Recalibration Complete
Wednesday's rate cut from the Fed was "a closer call" compared to reductions in November and September, Jerome Powell said, speaking to reporters following the final FOMC meeting of 2024.
Asked by The New York Times's Fed reporter, Bloomberg veteran Jeanna Smialek, why the Fed should cut at all in 2025, Powell first explained Wednesday's cut.
Although downside risks "do appear to have diminished," the labor market's still cooling, Powell said, before reminding investors that, as per his Jackso
Once again – data dependency will rule. But, it doesn’t need to be said….what happens after inauguration day will have a lot to do with the nature of that data.
Nobody knows. Jay cost me some fee revenue at quarter end though. Today unwound a lot of the happy talk after the election. 10 yr at a 4.50% will prop the US $ and hinder risk assets.
Speaking of policy making, we are already seeing the chaos unfold. Trump and Elon dumping on the stopgap funding bill expecting that they can browbeat all the Republican reps into a version that doesn’t give into any Democratic demands.
Watching the sausage get made is going to be even more entertaining when they are down to a 3 seat majority. How long is the Trump honeymoon going to last this time around?
Sold my vxx call too early in the session, dagnabit