TODAY’S FOMC RECAP


➺ Fed lowered rates by 25 bps
➺ Fed will purchase $40B in T-bills over the next month starting December 12
➺ Powell noted the labor market is showing weakness
➺ He said T-bill buying will stay high for the next few months
➺ He expects steady economic growth next year
➺ Rate-cut decisions will be made one meeting at a time
➺ He repeated that inflation is still too high
➺ A rate hike isn’t the base scenario for anyone
➺ He mentioned job gains were reported higher than they really were
Overall the meeting leaned positive for the markets#AreYouBullishOrBearishToday?
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