Our September meeting comes at a difficult time for the stock market. We have macro headwinds for so many companies, yet those headwinds are not strong enough to have the Federal Reserve pause in its relentless rate increases. It has also become obvious to us — but not to the vast majority of commentators — that the central bank won't be cutting rates anytime soon. That's because we're being flooded with stimulus money from another part of the government: Congress.
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on September 20, 2023 at the Federal Reserve in Washington, DC.Our September meeting comes at a difficult time for the stock market. We have macro headwinds for so many companies, yet those headwinds are not strong enough to have the Federal Reserve pause in its relentless rate increases.
It has also become obvious to us — but not to the vast majority of commentators — that the central bank won't be cutting rates anytime soon. That's because we're being flooded with stimulus money from another part of the government: Congress.
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