Don’t fight the Fed…and the Bank of Japan, and the People’s Bank, and the European Central Bank
Once upon a time--as late as 2018--the consensus thinking in financial markets was that the Federal Reserve was but the first central bank to raise interest rates. Other central banks, most notably the European Central Bank, (but not the Bank of Japan, which may never...
So how long before markets react to the dark side of today’s Fed decision?
Today the financial markets are in love with the idea that the Federal Reserve will raise rates no more than once in 2019--and more likely zero. And that the central bank will re-examine its policy of letting its balance sheet run off to the tune of $50 billion a...Don’t fight the Fed (again): Did Yellen and the Fed ride to the market’s rescue today?
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