The Fed Provided A Legitimate Surprise
The Fed Provided A Legitimate Surprise: Sevens Report Editor, Tom Essaye, Quoted in Barron’s
The Stock Market Needed a Washout. What Sentiment Says About What Comes Next.
The Sevens Report’s Tom Essaye notes that two things in particular caught investors offside. First, the shift to fewer rate cuts in 2025 means that the Fed will be less of a force for good in the market than it was heading into the meeting. The language of the statement also changed in a way that suggested rate cuts could be off the table completely next year. “Bottom line, the Fed provided a legitimate surprise,” he writes.
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