The Fed decision is tomorrow
The only thing worse than a two-day meeting is a two-day meeting on Zoom.
Here are three things to watch for from Powell & Co. After yesterday’s decision to expand the Main Street lending program it’s tough to envision that they will do anything remotely hawkish. The one argument the other way is that they announced the Main Street changes separately so the statement itself (and the overall message) wouldn’t be as dovish. That’s a bit too deep for the Fed, but you never know.
Anyway, maybe Powell is just trying to help us all out: it turns out that negative thinking leads to dementia. So take that bears.