The Fed Is In No Rush To Cut Rates

"...I remain in the camp that we will see continued volatility ahead until we get some calming in the economic macro data points."

Feb 23, 2023

∙ Paid

Friend of Fringe Finance and well known financial news contributor - as well as 38 year veteran of markets - Kenny Polcari has been kind enough to share his most recent thoughts on the market with our readers.

For those who aren’t familiar with Kenny or don’t recognize him from TV, he is Managing Partner of Kace Capital Advisors and Chief Market Strategist at SlateStone Wealth. He started his career on the floor of the New York Stock Exchange (NYSE) as an institutional broker back in the early eighties when the march of electronic trading was already taking its first steps, and the great bull was first learning to run.

Here’s his take on markets heading into the Thursday, February 23, 2023, trading day:

The post has been lightly edited for punctuation and grammar.

Again I’ll say it. Hello…anyone home? Investors, traders and algos got little to no confirmation that the Fed has any interest in slowing, stopping or cutting rates anytime soon yesterday.

In fact, the FOMC minutes released yesterday at 2PM revealed little to nothing new about the latest “Fed Think” and instead corroborated the idea that rates are expected to continue to go up and remain up for longer. I’ll repeat it again for those in the back: what this means is: