What would the FED do tonight?
With CPI numbers coming in lesser than expected, will the FED decrease the interest rate or increase or remain constant in the interest rate?
If they decide to decrease the interest rate, the market will rally thereby putting the entire effort of the FED this year to waste and the inflation will still be out of control.
If the increase or remain constant at 75bps, the market will tank again because they did not expect the FED to be so hawkish.
But remember that the FED does not really care about whether they crash the market or not! Their only mandate is to bring inflation down and have stable prices.
Invest safely!
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