While the world was still digesting yesterday’s US Presidential election, The Fed quietly forged ahead, continuing to execute their existing action plan (“today is Fed Day!?”), cutting rates by 25bps as widely expected. This time, there were no dissenters (last cut there was one in Michelle Bowman). The statement seemed boiler plate with no explicit acknowledgement of election uncertainty or related issues and Powell delivered the expected message of 'steady as she goes' regarding the dots and…
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