Watching Paint Dry Would Have Been More Fun…!

We got a master performance from Fed Chain Powell yesterday in saying as little as possible, while avoiding all the pitfalls and not mentioning stagflation once. The Fed confirmed on Wednesday that a targeted federal funds rate had been held at a range of 4.25% to 4.5% following its rate-setting open market committee’s latest two-day meeting, it said: “Uncertainty about the economic outlook has diminished but remains elevated.” But Powell did signal that higher prices are coming as the US Federal Reserve kept interest rates on hold, but also signaled it still might make two cuts this year as growth […]