By: Tom Gentile
on March 17th, 2021
The Federal Reserve left interest rates unchanged. This announcement came out as it always does; 1pm US Eastern Time
The markets popped up on that announcement and in its typical pattern of trade it almost immediately traded in the opposite direction from the initial move.
That pop and drop (in today’s case), was short lived. The markets (DJ-30, NASDAQ and S&P500 ended up higher on the day and near their highs for the day.
The Fed said there are concerns of inflation, but the economy is strong, and they are not (for now) going to raise interest rates for another two years (through 2023).
Based on the way the markets ended the trading day, this was deemed good news.
C1P Chief 1-Percenter