Well, those of us who care, know that Jerome Powell, FED chairman, made a statement following a meeting of FED governors yesterday. The markets had already reacted to anticipated(leaked) statements that announced nothing new or earthshaking: inflation was still a problem; the economy was still to 'hot'; target inflation had not been achieved(2% annual), unemployment was still low(effectively zero), and interest rates would not be lowered anytime soon; maybe in 2025.
So, consumers will pay more in interest down the road. Homes, cars, luxury goods will cost more. Cash is king. Hedge fund managers are buying Treasuries, going against another trend among investors, notably those usual buyers offshore. Yields are up while prices are down. Those investors with cash are moving 'sticky money' out of savings accounts into short term T-Bills for the 5 %+ returns. This creates anxiety among smaller banks who now have less cheap money to loan out to businesses in need. The FED thinks this will slow things a bit.
Some small banks-Republic First - is struggling, and hoping an infusion of cash will save it. Good luck, crooks.
Meanwhile, Trump and family are in court facing the 'music' from New York. Their business in the state will soon end and the family will be on the hook for $250 millions they cheated the state out of property taxes over the years. Family scum.
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