Potential market moving event today at 2 PM EST

in LeoFinance •  9 days ago  (edited)

Bitcoin, stocks, and basically everything may start moving around 2 pm EST today

Will they or won't they?

The FED is expected to make an announcement today at 2 PM EST and then have a half hour conference immediately following the announcements from the FED Chair.

For those not familiar the FED Chair is Jerome Powell.

(Source: https://www.marketwatch.com/story/the-fed-is-fighting-the-last-battle-and-here-are-the-risks-to-its-new-strategy-11600252450)

The last time we heard from the FED they said they were going to changed their dual mandate to targeting an average of 2 inflation over a period of time.

Which markets took to mean that the FED would let inflation run hotter than 2% for a period of time if it was below that mark for a period of time.

This is actually pretty good news for risky assets and the economy because it means that if the economy picks back up, the FED isn't going to stamp it out right away.

That was Trump's argument for years while Powell was raising interest rates during his term.

I suspect we will see FED say more of the same today and perhaps provide some clarity on those previous statements.

As long as there isn't anything surprising (in a negative way, like a rate increase) in there, I expect bitcoin and stocks to go up on the news.

Posted Using LeoFinance

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