What You Missed Yesterday

Tuesday, December 12


With inflation cooling but not cooling enough, markets are stuck in yet-another moment of equilibrium before the Federal Reserve’s big announcement tomorrow.


Enough investors were casually betting on the Fed surprising the world with a rate cut this month that we’re seeing a little pullback as those folks return to reality. Everyone else is basically keeping their money on the sidelines until we get a better sense of what the future holds when Jerome Powell announces Fed policy re: rates tomorrow afternoon.


While the Fed is almost certainly going to hold interest rates again and not risk another rate hike in 2023, the main question is if and when the Fed will consider cutting interest rates.


The economy is definitely slowing despite all the strength we’ve seen, and investors are worried that Jerome Powell will take things too far and slow the economy beyond the soft landing we’re targeting. But for now, there’s still a lot of massive developments brewing outside the macro world. Let’s explore the top headlines that are going to drive longterm sentiment today.

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