As we all recover from tryptophan-induced comas due to our Thanksgiving turkey, the market seems to be waking up as well. Yesterday, Fed Chair Jerome Powell gave a speech which seemed to confirm the emerging "lower, but higher" consensus about interest rates. In his remarks, Powell said it made sense to "moderate the pace of our rate increases" to a level sufficient to bring inflation down. In other words, December's anticipated rate hike will likely be 0.5% rather than the recent trend of 0.75%. Read More... |
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