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Morning awesome people!
We all have suffer the storm as there was no rate cut from Fed as predicted (from many sources)
📌 In the statement they also metioned “ Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated.”
📌 Some words from Powell:
- “ PRIVATE DOMESTIC FINAL PURCHASES, A CLEARER SIGNAL, IS STILL STRONG || CONSUMER SPENDING REMAINS SOLID”
- “IF ECONOMY REMAINS SOLID AND INFLATION PERSISTS, WILL KEEP RATES WHERE THEY ARE FOR AS LONG AS NEEDED”
- “IF JOBS TO WEAKEN UNEXPECTEDLY, FED IS READY TO RESPOND”
As seen now they probably need more time for the data until the next meeting to see whether it needs a rate cut or not 🤔
So, Im back to tecnical and stuff later on today!
Hope you guys have nice day and a lot of green pips in trading ❤️