JPMorgan Chief U.S. Economist Michael Feroli says the data since the October FOMC meeting “haven’t delivered any big surprises” and the next FOMC meeting “remains a close call.” However, the firm now believes the latest round of Fedspeak “tilts the odds” toward the Committee deciding to cut rates in two weeks. While the firm sees “compelling reasons” for holding and for cutting, it notes that NY Fed President and FOMC Vice Chair Williams’ remarks last Friday about seeing room for cutting “in the near term” were heard by markets as indicative of where the rest of the leadership and Chair Powell were leaning and would “agree” with that assessment.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPY:
- Fed’s Beige Book Shows Waning Consumer Spending amid a K-Shaped Economy
- U.S. Mortgage Applications Leap to 2-Year High as Rates Remain Elevated
- Economic activity ‘little changed’ since last report, Fed’s Beige Book says
- Fed Beige Book says employment ‘declined slightly over the current period’
- Gold Could Vault to $4,950 Next Year, Says Deutsche Bank