We have the Fed rate hike announcement today. The consensus is 50 basis points. And that’s probably where they come in.
But I wouldn’t be surprised to see them “pull a Greenspan.”
What I mean by that is that over the past 15 years, The Fed’s policy, since Bernanke has been to give good forward guidance and let that job-owning do their work for them through the markets.
Greenspan’s “old school” way was to really catch people off their guard — to hit them with shock and awe.
“A 2×4 to the face“, so to speak.
Powell needs to get growth and inflation down — so he needs to be as aggressive as he possibly can.
The Fed has created massive problems for itself and they really need to dig themselves out.
One of the best ways to do that is to catch the markets off balance.
► So with that in mind, today’s daily pick is PATIENCE. Wait and see how the Fed announcement goes today.
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