Fed Emergency Meeting of 10/3/2022
The Federal Reserve had an emergency meeting October 3rd at 1130am EST. I'm sure Credit Suisse and UK pension problems were on the agenda.
I can't believe this is not more widely discussed. The markets are surely taking notice.
What does this mean:
IF they delay rate hikes or cut rates, or
IF they delay quantitative tightening, or
IF they initiate quantitative easing, or
IF they take steps to support foreign central banks,
THEN it may be time for a big bear market rally.
Let's see what they say.
UPDATE: here is their response:
Message from the Fed: Sorry, Charlie.
In case you didn't see this, Monday evening NY Fed President Williams said there is no imminent change to Fed tightening policy. There are 3 FOMC voters with very heavy weights: NY Fed President (Williams), Chairman (Powell) and Vice Chair (Brainerd).
We have seen some cracks from the Bank of England and the Royal Bank of Australia (ie slowing rate of tightening despite high inflation).
Robert Lloyd, CFA®
Chief Investment Officer
Lloyds Intrepid Wealth Management
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