FOMC finally to get a bit more serious about its hawkish stance
After delaying and probably hoping against hope it would not have to do this, the Fed has to begin a rate hiking regimen in tandem with a QT program to try to mop up the inflation it created in 2020 that has proven to be oh so not transitory.
The eggheads will meet. They will posture as if there is a decision to make as usual. Then they will put upon us a policy statement rendered from on high by a great and powerful committee. The mainstream financial media will play along as if we are all in tow to the powerful committee’s decision making. It’s a Kabuki Theater of the most grand order.
Meanwhile, let’s remember that the Fed did indeed hold out until the last possible minute before unleashing Mr. Bullard, Ms. Brainard…
And finally the man himself, Jerome Powell into the media to startle markets when they could have simply respected and been guided by indicators like the 3 month T-bill yield, which itself followed the 2 Treasury year yield in indicating the Fed to be lagging badly. It’s almost as if they made a conscious effort to do the right thing at the wrong time. They should have shut their collective pie hole and raised the Funds rate by .5% at the last meeting * instead of getting their jawbones into the media like that.
There are few people or entities I have less respect for than the faulty monetary regulator known as the US Federal Reserve.
For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by PayPal or credit card using a button on the right sidebar (if using a mobile device you may need to scroll down) or see other options. Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.