Fed Pause
The FOMC voted to pause their rate hike citing a slowing economy, but
they asserted that hikes may be resumed if inflation does not moderate.
Well I’m surprised that only one governor voted against the pause. I
thought there would be another quarter point hike. All the same, it
seems like the Qs may fall.
I was just watching the Qs action shortly after the minutes release.
There was one huge sell order, something like 1.7 million shares, then a
bigger buy order for approximately 3 million shares. Whoa! I can’t
wait to see how the tug of war goes. I’m guessing that slowing economy
means poor earnings reports which means contracting multiple, which
means stocks fall.