The minutes from the Fed’s September meeting struck an extremely hawkish tone, with 16 of 18 officials calling for rate hikes to continue through the end of the year. Markets were confused at first, but quickly realized: Wait, isn’t the Fed “behind the curve”?
Since that meeting, U.S. inflation has cooled (PCE at 3.4%) and employment has deteriorated (just 29,000 jobs). And so, the hashtag #FedMinutesFocusOnOctoberPause
took center stage! Traders quickly rushed to bet there was an 80% chance the Fed would have to “soften its tone” and pause rate hikes in October. But the outlook for December remains gloomy and hard to predict if inflation rises again.
$NVDAB $ZRO $SOL
#EvernorthDelaysNasdaqDebutToOct12 #SP500AndNasdaqHitRecordHighs #VitalikWarnsAICouldWeakenCryptographySecurity #FrenchHillUrgesCLARITYActPassageInLameDuck
Since that meeting, U.S. inflation has cooled (PCE at 3.4%) and employment has deteriorated (just 29,000 jobs). And so, the hashtag #FedMinutesFocusOnOctoberPause
took center stage! Traders quickly rushed to bet there was an 80% chance the Fed would have to “soften its tone” and pause rate hikes in October. But the outlook for December remains gloomy and hard to predict if inflation rises again.
$NVDAB $ZRO $SOL
#EvernorthDelaysNasdaqDebutToOct12 #SP500AndNasdaqHitRecordHighs #VitalikWarnsAICouldWeakenCryptographySecurity #FrenchHillUrgesCLARITYActPassageInLameDuck