Hello Everyone,
The Fed raised overnight rates by 0.25% as widely expected, Tomorrow's movement is more important than today's reaction
The Fed raised rates 25 basis points. They remains committed to getting inflation down to 2%. This was expected, but Wall Street was mostly looking for hints the Fed would put everything on pause and take a "wait-and-see" approach. If they stopped raising and inflation ticked up, they could always raise again. But some are starting to fear they've already gone too far. The problem is that the Fed seems noncommittal. They don't want to keep raising rates, but they might have to. They say our banking industry is sound, but after 3 giant failures in two months, can they say that with a straight face? Powell did say they are closer to the end than the beginning, but that doesn't bring clarity that the market wants.
another possible casualty after hours with
PacWest bank falling more than 50% on concerns
Headline Releases rest of week:
2. AAPL Reports Thursday After the Close
3. Monthly Payroll Report on Friday
STS KISS Tables for Indexes, ETF's, Stocks
- (CHECK YOUR STOCKS AND ETF"S for where your protective stop should be placed)
have a great night!
Matt
