just sitting here, sipping a bourbon amaretto, wondering if it matters what happens at FOMC tomorrow.
i mean, we all know jerome powell isn’t dovish. i can seem on his birthday or kids graduation cautioning not to celebrate too earlly – after all, he could die later today or maybe the kid doesn’t end accomplishing all that much after school or something like that.
i’m pretty sure there’s a less than 1% chance of anything other than keeping the rate at the current level (“more data, we might raise we might cut…patience patience” or something like that, so i’m guessing the big focal point will be when (or if) they project rate cutes. but even if they are sooner than expected, or the same…a lot of people consider rate cuts bearish for a variety of reasons that mainly boil down to ‘it means we are headed for a recession.’ if they push them out or take them off the table, yeah, that’s also bearish. and of course if they raised rates (0% chance of that) it would also be bearish.
so tldr and really, my question: is there anything powell can say or the FED can do at this FOMC that isn’t bearish? I suppose that might be a bit cynical. How about: what could happen tomorrow that *would* be bullish.
[quick edit bc i’m realizing i should include why it’s crypto related]: it’s crypto related. Everything the Fed does is crypto related.
submitted by /u/MaxSmart1981
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