The Federal Reserve left interest rates unchanged Wednesday at its December meeting, just as markets expected.
"There's a couple things on the table there. One, we have U.S.-China trade, like we talked about. It's still out there, Dec. 15 is still a key date. We don't know clarity or don't have clarity around that. And number two, it's interesting that since they last met, we've had the shift in market sentiment that perhaps we're in this bottoming process in the economy, perhaps next year we'll see a mid-cycle reflationary story.
"I think the best we can hope for here is a fragile ceasefire rather than a durable peace. And that's really the problem because global business is holding back on investing because they don't know what the rules can be around trade. And I think that the [Trump] administration seems to think that if the markets go up on rumors of a trade deal, that's a positive. I think the real positive is having some certainty around that.
"I'm very uncomfortable with this Fed statement and even with the way that things are being addressed right now, because effectively what the Fed is saying is that they're going to let the economy run hot. Okay, that sounds great, but I'm a fixed-income investor. So what does that mean for me?"
TradingNation This personal and national debt fueled bubble is quickly approaching the fan.
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