Comments On Fed Action From BTIG Market Strategist
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BTIG's Chief Market Strategist, Michael J. O'Rourke, CMT, made comments regarding the market after the fed announced the rate cut.
"Equities made the push to 1400 on the S&P 500 as we drew closer to the announcement. As expected the Fed eased by 25 basis points abut did not heighten inflation hawkishness. The Dollar Index had rallied over 2% over the past week coming into the meeting, popped slightly here and holding. It does look like the pause since they dropped the downside risks to growth though.
Fisher and Plosser both hawks Dissented, Preferred No Change In Rates
Looks like what the market expected." [JT]
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