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Fed

Fed Chair Powell spoke this past week at the European Central Bank Forum and he repeated his view that fighting inflation is the Fed’s highest priority to prevent an era of persistently high inflation.  However, he continues to express his view that while a soft...

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  • US Policy
June 21

Fed Act – Congress looks to Democrats agenda – Biden focuses on Mideast and China

The long awaited action by the Fed’s Federal Open Markets Committee (FOMC) was announced last week, and as markets had begun to suspect, the base interest rate was increased by 75bps.   At his press conference after the rate hike announcement Chair Powell said the following; “Clearly, today’s 75 basis point...

  • US Policy
June 17

Fed acts while Congress talks Jan 6 and guns

The long-awaited action by the Fed’s Federal Open Market Committee (FOMC) was announced on Wednesday, and as markets had begun to suspect, the base interest rate was increased by 75bps. Until the release of the hot CPI and the University of Michigan consumer confidence numbers, markets were banking on 50bps,...

Fed Meeting Does Not Change Outlook — Fade Any Rally

FLASH COMMENTS: Today’s Fed meeting, 75bps increase in the fund rate, and the post-meeting press conference by Chair Powell does NOT change my outlook at all.  My research suggests that we are in the early stages of a negative earnings revisions cycle that is not priced into equity markets and thus my...

  • US Policy
June 13

Fed week, Reconciliation, guns and Jan. 6 dominate week ahead

:This Tuesday and Wednesday the Fed’s FOMC meets on interest ratesWednesday at 2:00 Chair Powell meets press and will discuss rate decision and directionNew Fed Members and role in rate policySchumer and Manchin continue Budget Reconciliation talksPress will focus on guns and Jan. 6 hearings FOMC AND INTEREST RATE HIKE...

  • US Policy
June 10

Congress focused on guns and 01/06, markets await Fed

The DC week was highlighted by a dramatic evening of testimony before the 01/06 House Committee; time will tell if there is any political impact on the case the Committee is building against former President Trump.  This week also saw talks between a bipartisan group of Senators proceed behind closed...

Fed, Reconciliation, Oil and Foreign Policy, PA Senate Race Set

Congress returns with focus on guns and 1/6 insurrection hearings.Senate Banking announces vote on Barr to be on Fed Board, and date of Powell midyear testimony.Can Schumer and Manchin find a compromise on mini-Build Back Better.Biden walks tightrope on Middle East policy with talk of July trip to region.David McCormick...

Fed, Asia Trade Policy and Midterms

Congress out for Memorial Day break.Powell to White House for Tuesday meeting.Fed FOMC meeting approaches June 14-15, 50bps hike seems most likely.Will new Governors have any impact?Biden meets with leaders of Japan, India and Australia to explore trade partnership.Did Georgia primary impact Trump’s role in Republican Party? FED The White...

FOMC minutes and Fed nominee, midterms and Ukraine

FOMC minutes to be released Wednesday at 2:00.  Focus on direction of rate policy.Senate hearing on Michael Barr to be final Biden pick for FRB.Midterms: Trump endorsed candidates did well last week in PA and NC, but some unrest could be seen this week in GA where Gov. Kemp seems...

Fed Nominee, Ukraine and Midterms

The Federal Reserve Board has seven members but for months has been operating with only four Governors; that changed when the Senate gave final approval to Lisa Cooks on a partisan 51 - 50 vote and Philip Jefferson on a bipartisan vote of 91 – 7.  This still leaves the...

Fed confirmations, Ukraine center stage, DC and Crypto

Powell confirmed for second term as Fed Chair, two Biden Fed Governors approved by Senate. Next FOMC meeting June 14/15.Ukraine aid moving quickly through Congress.  Trips by Speaker Pelosi and Senate Republican Leader McConnell demonstrate rare bipartisan agreement.Large crypto losses likely to lead to increased interest in DC. The Federal...