How Will You Sit For This Friday’s Close? By Michael Every of Rabobank As widely expected, as our Fed watcher Philip Marey covers here, the Fed left rates unchanged at 5.50% and will continue reducing its holdings of Treasury securities, agency debt and agency MBS by $60bn a month. There was no update of its economic projections, and only marginal changes to its statement, which was therefore more hawkish than expected. However, Powell very clearly put a September rate cut on display in the press conference. Overall, recent developments in inflation and unemployment seem to warrant a rate cut ahead.… — Continue at ZeroHedge News : Read More
