Thoughts From The Divide: More Cowbell
“The Federal Reserve is independent from politics. That doesn’t mean that politics is independent of the Federal Reserve.” It’s decision day at the Fed, and
September 18, 2024
“The Federal Reserve is independent from politics. That doesn’t mean that politics is independent of the Federal Reserve.” It’s decision day at the Fed, and
I’ve been anticipating some pressure on risk assets in the run-up to the election, hence the recommendation to “Batten Down the Hatches”. I think it’s unlikely that the big rotation will be wholly benign; the dollar will dictate the environment for any change and the scale of the rotation trades are likely to be both large and persistent. Time to line up the candidates.