In a rush? Here’s the key takeaway
If you are long stocks you’ll probably disagree, but we should all rejoice at what Chair Powell and his Fed did Wednesday. That’s because in hiking rates, in signalling less rate hikes than previous forecast, in acknowledging the uncertainty in the outlook for 2019, and clearly signalling a pause is coming to Fed rate hikes the FOMC and its chair showed the adults are still in charge.
That is important for the long term health of the economy in the US and the globe. It asserts main Street over Wall Street and though President trump may not be pleased he should be. This Fed is his best chance of re-election in 2020 because it is clearly setting itself a task of keeping the economy humming.
Investors don’t agree though and stocks were belted and bonds bid. Risk currencies were sold, the US dollar rallied, but gold fell. What interesting times we live in.
A quick bit of housing keeping.
Vimeo send me an apology overnight about one of their bots locking my account. They say it won’t happen again.
That said though I will post on Vimeo but also give a link to my OneDrive where I will store the video each day – you choose which way you want to watch it and you’ll always have an option if one method goes awry.
Have a great days trade.