💥"Rate cuts will be a topic"💥
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👍 Winners of the Week+ 👍
1. Jerome POW-ell.
Turn off the lights, close the doors. The show is over. We’ve (apparently) reached peak Fed funds rate.
Following fresh CPI inflation data (3.1% in Nov), jobs data, retail sales data (up 0.3% MoM vs. -0.1% estimated) and the two-day meeting of the Federal Open Market Committee (“FOMC”), Fed chairman Jerome POW-ell seemingly shape-shifted from hawk to dove, announcing that the Fed funds rate would once-again remain steady at 5.25 to 5.5% and otherwise whispering sweet somethings into market ears like “I would say there’s a general expectation that [rate cuts] will be a topic for us looking ahead.”