IF you can trust any of these reports anymore, I'm not sure that you can, but if you can, then ISM and the ADP number came in with decent beats today. This, considering the Fed already has the information, does not bode well for a big stimulus package if they perceive the economy as getting better or if they want to give off that perception. Considering no stimulus has done much at all, they might just be better off going with a placebo and seeing if they can inspire confidence by not panicking.
That's just speculation, we'll know son enough. As I cautioned last night and every time the Fed speaks, beware the initial knee jerk reaction; I can't remember the last time that this didn't hold true.
5 years ago
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