The Fed raised rates another 0.50% just like everyone expected and then Jerome Powell said the same thing he’s been saying for 6 months.
What did he say? It doesn’t matter.
It only matters that it was the same thing.
You see the market love certainty more than anything else.
It doesn’t care that inflation is still high.
It doesn’t care that the Fed is still raising rates.
It doesn’t care that people are getting laid off (even if WE care very, very much).
The only thing the market cares about is that the future is manifesting in a predictable way.
And that’s why we’re up 10% over the last two months.
So the layoffs might continue and the most anticipated recession in history might actually happen.
And the market could shrug it all off and continue higher because that’s exactly what it expected.
#alwaysbeinvested
