No change in Fed policy at today’s May meeting. the FOMC Watch Tool gives a chance of a 25 basis point rate hike at 67.4 percent at the next meeting in June.
I’ll take the other side of that bet as the Democrats and some Republicans keep a hard line position against anything President Trump puts on the table.
Even if they take a vote tomorrow and the Health care bill passes, that’s just one house, there is another that needs to join the Health care ranks. And no one knows how long it will take before a tax bill can even be submitted to both houses.
The media is acting like a bunch of teenage cheerleaders trying to keep the narrative alive that the Equity markets have a lot more upside potential when President Trump’s agenda gets done.
Not so fast everyone, this is Washington politics and everything takes forever.
Enjoy the rest of your day.
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