FYI: This morning Josh explained briefly why I thought the Federal Reserve had an opportunity to pause today as opposed to doing its widely expected fourth interest rate hike of 2018.
But they hiked. And, I guess, attempted to accompany the hike with somewhat dovish language to cushion the blow, sort of?
It didn’t go well. The Dow, which had been rallying into the decision / press conference ended up absolutely hammered, and the 10-year sold off, which tells you everything you need to know about the market’s confidence in next year’s economic outlook.
Regards,
Ted
https://thereformedbroker.com/2018/12/19/well-that-could-have-gone-better/
