Technical Review

Focus on the FOMC

Coming into this year Wall Street expected the FOMC to lower the Funds rate 6-7 times even though the Unemployment Rate was near a 50 year low and GDP averaged 3.1% in 2023. This was clearly not going to happen. The disappointment of fewer rate cuts was replaced by the prospect of Artificial Intelligence solving almost every problem known to mankind. The poster stock for the AI revolution is Nvidia which is at the junction of many aspects of AI. This has greatly benefited Nvidia’s revenue growth and its stock. As I’ve discussed comparisons with the Dot.Com era isn’t applicable since...

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