Sell-off Watch, Ad-vantaged, Cyber Pains & Gains 8/10/23
The Exchange
00:00
The Mission Achieved: The Fed's No September Hike
Goldman Steve says they're done that there was no September hike, which we've talked about. They say no November hike, that this is kind of it. And I don't know how much of a difference that makes when some people in the market are already talking about when the pivot in the first cuts might come early next year. This to me feels like the mission accomplished. It's been one year since they started hiking. It's not even been a full year since. The FOMC has made significant progress in lower inflation without an associated increase in the unemployment rate. So to the extent that David says they're ecstatic, I think they're very happy over there right now.
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