So, what do we expect next year??
“The Fed funds rate is now within a broad range of estimates of its neutral value, and we are well-positioned to wait to see how the economy evolves,” Powell said.
The chairman noted that there will be a significant amount of economic data released between now and the Fed’s next policy meeting in January, which will factor into its next moves. He went on to note the data for October and November will be viewed somewhat skeptically, due to the lack of data collection during the government shutdown, but more complete data for December should be available prior to the next meeting.
I expect the stock market, gold, silver, crypto and any another hard assets to boom next year—as the dollar is devalued.
I see he confirmed he will continue to drive the bus by watching the rear-view mirror. Oh well, at least he’s predictable.
The Fed is just continuing the cutting cycle they started before the election. They stopped it when Trump was elected. And came up with numerous excuses to not cut. But Trump gets to replace Powell and others so he will gain control of the Fed in 6 months anyway. Powell is cutting so he can’t get blamed on his way out. After trying to sway the election and hurt Trump.