We've ended up in the top left square: a hike and a hawkish press conference. That means Dollar up a lot and gold and S&P 500 flat to slightly down. A lot of the critical questions didn't get asked in the press con, so I would say Warsh got off lightly...
https://t.co/QIA0rYUp4b
The Fed made a very clear statement today.
Not only did they hike interest rates, but it was a 12-0 unanimous decision.
This marks the first unanimous Fed decision since May 2025, amid calls from President Trump to cut rates.
And, the Fed concluded their policy statement by saying, "The Committee will deliver price stability," making it clear that inflation is their top priority.
The question now becomes: How does President Trump respond?
12 days ago, President Trump said he would "stop trading" with 50+ US trade partners if the Fed does not cut rates.
Today, the Fed not only avoided cutting rates, they hiked them.
Clearly, the divide between the White House and the Fed is widening, even with Jerome Powell out.
More to come.
🚨MAJOR!! The Supreme Court is about to drop a massive ruling on mail-in ballots which could affect California counting.
Case could strike down “Election Month” and late ballot counting in multiple states.
HUGE!
HT @EricLDaugh
BREAKING: S&P 500 futures extend gains to over +1% on the day and hit the highest level on record as President Trump asks Iran to join the Abraham Accords.
That's +$11.3 TRILLION in market cao since the March 30th bottom.
💥NEW @INVESTINGCOM POST ALERT💥
*No Dovish Pivot Coming From The Fed At Jackson Hole, Dashing Investor Optimism:
👉 https://t.co/RP4j3xjBb3
$DIA $SPY $QQQ