With equity markets trading higher today it seems like investors/traders are looking for a dovish spin from the Federal Reserve today at 1 pm (Central time).
With the last soft jobs report, Covid 19 Delta and now Evergrande in China the chair has lots of excuses to put a dovish spin on a taper.
Interest rates have remained firm around the 1.30% to 1.35% area–obviously this crowd is not looking for any surprises in the tapering announcement.
Honestly it would be great to have a date to ‘hang our hat on’ relative to the taper—I hear the talking heads continue to harp on an interest rate hike immediately after the taper is complete–what crap!! We can’t even see next month let alone 2023–there is one hell of a lot of ground to cover before we get to rate hikes.