Below is some curated insight from Hedgeye CEO Keith McCullough's X/Twitter feed following today's Fed decision to hold interest rates steady and its indication that it's not ready to start cutting rates with inflation still running above the central bank’s target.
BREAKING: hawkish Fed
The Old Wall was begging for cowbell, and they didn't get it.
In other words, the entire December 2023 year end compensation markup for money managers calling for Rate Cuts ... Was complete bullshit.
If they don't cut, probability goes up that they eventually do... Because if they don't cut, stocks crash (again).
This is, of course, one of the problems with the US Government making up the recent "strong" GDP report... It keeps Powell hawkish, lol
#MOAB (in Call Options) Today they were betting on Dovish Fed with the #0DTE SPY $489 Calls at the TOP of the Most Actives Board oops.
This is what happens when lemmings lead sheep. They'll ramp spooz 20 handles on any hint of what they've been begging for btw. Be nimble.
"We are acutely aware that inflation causes hardship"... but we'll turn tail on you if SPY crashes -Powell. America's uniquely centrally planned stock market...
And they give a journo w/ zero experience the 1st question...In other words, they placed the question with the journo who will obey and nod. Every. Single. Question. Is "when can you cut rates?"
BOTTOM LINE: The Old Wall and its Elites were trying to ram a March Rate Cut down Powell's throat... He said he "wasn't even considering it" Good on him. This has become a complete joke.