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As you well know, Wednesday is the 6th (of 8th) FOMC Meeting of 2025, and it’s a widely anticipated one, since Powell has all but declared a rate cut is guaranteed, and the only unknown is whether the (meaningless) cut will be 25 or 50 basis points.
For months now, equity markets have been stomping higher on a near-daily basis. The trend is utterly bullish, and only a failure of the trendlines shown below would indicate even a whiff of a trend reversal.
My Twitter account has about 25,700 followers. There’s another account from a far more bullish chap which has nearly a million. He offered up the following thought regarding the forthcoming Fed cut:
I don’t pretend to understand all the financial plumbing behind this, but it seems like the complete U-Turn that the Reverse Repo performed is a pretty big deal.
