It is a rare day that I turn the TV on during the day—but today is an exception as I do have an interest in what Jay Powell will have to say at 1:30 (central).
I am pretty certain there will be no change in interest rates now—but I am not sure what he will say about tariffs and the labor market.
No matter what will be said it is highly likely we will see the S&P500 spike up and down as the algo hang on every syllable of the ‘statement’ and then Q&A with Powell. This is interesting to watch–but in no way will it make me want to buy or sell—or jump off a high building.
One thing we know for sure is that all the pundits, whether it be on CNBC or Seeking Alpha will have something to talk about for the next few hours–or days. That’s all it will be is talk–the markets will tell us what they think by moving up or down–I don’t need the opinion of all these folks.
The Fed steers the economy while looking in the rear view mirror driving a beater. I suppose in 2-3 quarters there will be a FED EMERGENCY MEETING to deal with interest rates as the FED CRASHED the car and is dialing 911 for medical help!