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Fed Hikes Benchmark Rate by 25 Basis Points, Signals More Increases to Come
Posted on 2/1/23 at 3:12 pm
Posted on 2/1/23 at 3:12 pm
I thought everything was under control now.
LINK
quote:
The Federal Reserve continued its campaign to bring down inflation by approving an increase in its benchmark interest rate of one-quarter of a percentage point, saying it anticipates further increases in the future.
Officials agreed Wednesday to lift the federal funds rate to a range between 4.50 percent and 4.75 percent, the highest since 2007.
quote:
“The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time,” the Federal Reserve’s Federal Open Market Committee (FOMC) said in a statement.
LINK
Posted on 2/1/23 at 3:25 pm to Jjdoc
The stock market popped nicely this afternoon - after people who actual understand this (and form their own opinions) had analyzed the Fed's action.
This post was edited on 2/1/23 at 3:26 pm
Posted on 2/1/23 at 4:12 pm to Jjdoc
quote:Well, the market says it is perfectly under control.
I thought everything was under control now.
As someone with a truckload of cash on the sidelines, this market reaction (18X earnings) makes about as much sense as TSLA did at $400 or BTC at $60K. But it is what it is. I've been waiting for a pullback since the Oct run. Nothing! It's my worst market miss since going all-in in Feb 2009. Capitulating to 4% FIMs.
Posted on 2/1/23 at 4:12 pm to Jjdoc
I wish I knew what the equity markets know. Based on daily headlines, the economic fundamentals don't seem to support these increases in the S&P, NASDAQ, etc. Layoffs, shadow unemployment... yet markets are green. Very strange.
Posted on 2/1/23 at 4:14 pm to Jjdoc
I’m just glad the adults are back in charge
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