The “pivot” dream is being entirely spun by media

by LessTalkMoreRock1

Nowhere in any of Jpows statements today did he suggest he will pivot to being dovish. He continued to say future decisions will be data dependent. Here is what he just said at the meeting verbatim:

“Our decisions will depend on the totality of incoming data and their implications for the outlook of economic activity”

These rallies are a trap for bulls

Federal Reserve issues FOMC statement: The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 3-3/4 to 4 percent.

Summary:

PCE core remains strong
Unemployment rate remains low
GDP strong number
JOLTS strong number

With these numbers I should expect 75bps & 75bps next meeting or even 100bps

— Alessio (@AlessioTMAD) November 1, 2022