Who was that guy “wary of the FOMC”, warning of “complacency”, “risk for more hawkish”?
Oh yeah … me:
- I am wary of the FOMC. While no rate cut is expected, it seems to me there is some complacency about. The risk I see is for a more hawkish than expected statement/Powell news conference. The US labor market is not showing too many signs of slack and the indications to inflation are indicating some sort of upward pressure remains in the underlying (core).
That was pretty much the vibe out of the FOMC and Powell’s presser:
Also nailed the two dissents:
This article was written by Eamonn Sheridan at investinglive.com.