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Open original source ↗What did the Fed accomplish by raising rates today?
For the first time in over half a century, a completed prolonged rate-cutting cycle produced HIGHER long-term interest rates.
The market has been telling the Fed for 2 years that it had the wrong policy.
They finally listened today.
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1/5 I have the opposite conclusion. Fed cutting has been a two-year policy error that (hopefully) ends tomorrow with a hike (91% prob now). This chart shows that since the Fed started cutting rates on Sept. 18, 2024, the 10-year yield is UP 1.30% @AnnaEconomist @fundstrat https://t.co/kMw10hu9pk
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