Quicknote: Fed pivots, but not in the direction markets hoped
www.peteresho.com
The Fed did pivot overnight, from hawkish to even more hawkish, which isn’t the type of pivot most in the market were expecting. It’s clear now that the Fed is in a Mexican standoff with inflation and it won’t blink until the numbers start to suggest otherwise. We won’t see the Fed change course until we start to see jobs and inflation falling. End of story.
Quicknote: Fed pivots, but not in the direction markets hoped
Quicknote: Fed pivots, but not in the…
Quicknote: Fed pivots, but not in the direction markets hoped
The Fed did pivot overnight, from hawkish to even more hawkish, which isn’t the type of pivot most in the market were expecting. It’s clear now that the Fed is in a Mexican standoff with inflation and it won’t blink until the numbers start to suggest otherwise. We won’t see the Fed change course until we start to see jobs and inflation falling. End of story.