In a speech on Friday, Biden “bet” that the Fed would be cutting interest rates soon.
It is extremely rare for a President not named Trump to comment on Federal Reserve policy. This comes after a climax run in NVDA stock and a volatile week that had the market on the cusp of a much needed pause or pullback.
Yet now, if market participants take this comment seriously and believe Biden has inside information about Powell’s plan, the market could surge higher, trapping newly minted shorts, and avert the healthy price action it needs to sustain this bull run for the longer term.
Anyone think Biden’s comments will ignite the market next week? Or will they just ignore this crazy old man?
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