Trying figure it all out as usual.
US had a foot stamping hissy fit when Powell said there wouldn't be a rate cut. FOMC need to see 6 months of good data showing inflation is on track to achieving their 2% goal. The current (annual to Dec23) inflation rate is 3.9%, Powell quotes PCE rates of 2.9%. Dec ticked up slightly. They have 6 months data showing a decline, but need more to show it closing in on 2%.
There is so much disinformation out there, here's the real deal. Preliminary Transcript of Chair Powell’s Press Conference Opening Statement (federalreserve.gov)
I've had to edit the above several times to remove my own disinformation.
Buy the dip, US futures are positive.
Trying figure it all out as usual.US had a foot stamping hissy...
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Last
3,001.9 |
Change
25.600(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 2,976.3 | 3,002.5 | 2,976.3 |
| XSO (ASX) Chart |