The FOMC will announce its decision on the Funds rate on Wednesday and Chair Powell will host another press conference. This meeting holds the promise of drama given President Trump’s non-stop criticism of Chair Powell. Wall Street will parse every word and intonation that Chair Powell says. When Alan Greenspan was the Chair, Wall Street literally analyzed the tone of his voice and whether there was stress in Greenspan’s voice to decipher the future of monetary policy. Wall Street noted the thickness of Alan Greenspan’s briefcase to discern whether a rate hike or cut was coming. It became...
