Fed voting committee
The Fed cut today as expected today but the language was a little less dovish. So all the filthy hedage fund capitalists, patriots all, will be waiting for heinous numbers going forward from our economy so the Fed will be forced to go back to a dovish easy money posture.
I still think we will be at zero rates at some point next year. It will take six 1/4 point cuts to get us to a zero interest rate policy, commonly referred to as ZIRP and seven 1/4 point cuts to negative interst rate policy (NIRP).
We’ll see if that all pans out, it will most likely require a hard, if not massive stock market selloff between now and then. Fed to the rescue.
Minutes after the fed cut, Powell went on to say “the real Fed Funds rate is probably modestly below zero”
LOL
AAPL reported and is up about 1.5% after beating estimates by .19 cents, but still down 9% from last year. FB also reported and is up about 4.0%.
VIX was down 6.5% and treasuries were up. The bulls are still in charge.