Fed Set to Pause Rate Hikes, But Don t Count Out Another Increase
The Federal Open Market Committee will keep rates steady at its Sept. 19-20 meeting in a range of 5.25% to 5.5%, a 22-year high. The rate decision and committee forecasts will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.
Powell has signaled that Fed leaders would prefer to wait to evaluate the impact of past increases on the economy as they near the end of their rate-hiking campaign. With inflation still well above the committee s 2% target and the US economy resilient, officials may pencil in one more hike in their quarterly projections.
My guess is they haven’t near “conquered inflation” but stopping the interest rate hikes might goose the NASDAQ and that would be welcome. I urge all of you to pray for NVDA, which is a good company and makes fast chips. There’s also MSFT and GOOG, but I can’t ask you pray for them as they are not good companies and yet you should probably be invested in them. I know, pray that they will stop being such woke, pro-censorship, anti-human hell holes, and that their price will go up. That’s fair.