As We Await the FOMC Anti-Climax…

The worst kept secret in the financial world is that the FOMC will not be further cutting the Fed Funds Rate today. In fact, 2.2% of futures players are speculating on a rate hike.

fomc

So after today’s rate hold we’ll see how man and machine react as the stock market goes this way and that.

November Payrolls was strong and, from the Daily Shot

As we head into 2020 the question about consumer confidence and cost-push inflation will gain steam if these indicators keep on track.

For now, the Fed is not going to go from easing to hiking in the span of two meetings, but it may firm the language a bit. But so too there remains talk out there about how the Fed is willing to accept higher levels of inflation. So maybe they are still trying to woo the macro condition that will feel good for a while, until it either gets out of control or terminates decisively. The bond market allows for further lenience after all, unlike last year.

Okay FOMC, you’re up.

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