(Money Metals News Service) In this episode of the Money Metals Midweek Memo, host Mike Maharrey argues that investors are paying too much attention to the Federal Reserve’s September rate decision and too little attention to the larger fiscal pressures shaping the U.S. economy.
With CME FedWatch odds near 95% for a 25-basis-point rate increase, Maharrey said a hike by Fed Chairman Kevin Warsh appeared likely at the time of the recording (and the FOMC did, in fact, increase interest rates by 25bps). But he stressed that a single quarter-point move cannot resolve the forces driving the economy.
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