Lance Robert's portfolio co-manager Michael Lebowitz kindly steps in this week while Lance is away. Like many, he was caught off guard by the Federal Reserve's surprisingly dovish guidance this week.
There's not an obvious reason why the Fed changed its stance on interest rate cuts so swiftly. Just two weeks ago, Jerome Powell was saying that his committee was not even talking about rate cuts yet.
So what changed?
Could the plans to cut rates more aggressively than previously guided be a sign the Fed is spooked by something Powell isn't telling us about? Like greater odds of a recession ahead?
Michael and Thoughtful Money host Adam Taggart discuss this, as well as the future of inflation and interest rates, liquidity, the outlook for bonds, stocks and the markets in general. Michael concludes by sharing his firm's latest trade in response to the Fed's words.
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