That's been the case for the past 2 years. A sell-off normally ensues the day after his announcement followed by a rally the next day. I wouldn't be surprised to see him lower by 25 basis points though, because inflation for now is in check. He will lower next year, so why not lower now, before anymore damage is done. I think we may get a surprise. And, if anyone doesn't think AG ever surprises, tell me what he did a couple of weeks ago by letting the cat out of the bag, that he is looking to lower rates. He has never led the investment community on like that, therefore it wouldn't surprise me to see him do it again. At some point in time, he has to save his ass, because he's not the most highly regarded individual right now, after raising rates 6 times, causing a complete stop on the bull train.
KM |
