This Fed is the Big Story this Week

This week’s news will be dominated by the big Fed meeting. The meeting starts tomorrow and the policy statement is due out on Wednesday afternoon.

I doubt we’ll see a rate cut now, but the futures market isn’t completely ruling one out. The question is, what comes next? There’s now a consensus on Wall Street that the Fed will soon cut rates, probably next month. I’m still a doubter, but I’m in the minority. We’ll learn a lot this week.

This morning, the New York Fed released its Empire State report which looks at the economy of New York. It appears that things really slowed down in New York.

The other economic news has been a bit soft but nothing awful. The jobs report wasn’t terrific, but unemployment is still low. Retail sales weren’t as bad as some folks feared. Even the stock market has been acting better.

Posted by on June 17th, 2019 at 9:54 am


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