14 days ago • Posted by Paul de La Baume
#Fed hikes 75bps, #stocks whipsaw #markets #trading $SPY $QQQ
The Fed hiked the Funds Rate by 75bps as expected by the markets. In a slightly positive tone, the new dot plot provided is 3.4%, lower than the 3.8% investors anticipated and suggesting the Fed plans to cut rates in 2024. Interesting to note that one FOMC member (George) that is known to be a hawk, voted for only a 50bps hike. In a strange twist, investors have anxiety that the Fed is not doing enough to curb inflation.