The Fed is cutting rates today a big moment for markets. Despite earlier claims that a December cut was unlikely, the Fed had little choice but to ease and start adding liquidity. The 0.25% cut was already priced in, so the real focus is on what Powell says next and even more on comments from the incoming chair, Hasset, who has hinted there’s room for deeper cuts. Markets are watching every signal closely as we head toward what could be the start of altseason.
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