Hanging around the Highs
Trade Restriction or Reciprocity, October 'QE Lite' and the end of forward guidance
Fed Chairman Powell’s justification for the FOMC’s second consecutive ‘insurance’ rate cut was weak capital spending, a worsening global growth outlook and trade policy uncertainty. We agree with all of those, though not so much the policy response. When asked on CNBC Thursday afternoon about our expectations for additional cuts this year we answered …