The Fed Reaction Is a “Nothingburger”

After digesting the FOMC statement overnight, the market is right back where it started.

PRE-OPEN MARKET COMMENTS THURSDAY - As expected, the Fed cut interest rates by 25 basis points yesterday. Half of the Fed officials said that they did not feel the rate cut was necessary and they set the expectations for only one rate cut next year. The Fed did announce the purchase of $40B in T-Bills in the next 30 days and they are injecting liquidity (QE). That is why the market rallied yesterday.

Daily Bulletin Continues...