The FED Giveth and the FED Taketh Away
On Wednesday, November 2nd, the FED held its “Federal Open Market Committee meeting” and made the announcement the market has been breathlessly awaiting. As anticipated, Chairman Jerome Powell introduced a hike of 75 foundation factors within the fed funds charge. Together with the announcement, the market hoped for some indication of a “pivot”, i.e., that the FED would give some indication that it was going to be slackening off on its speedy charge…
