Happy Fed decision day to all who observe. After Tuesday’s as-expected inflation numbers, the market has settled on the idea that the Fed will skip a rate hike at the meeting, and according to market strategist Charlie Bilello, the Fed has done exactly what markets expected at every meeting since 2009.
Wall Street banks are updating their targets for the year as the calendar turns toward the summer solstice. The latest comes from Deutsche Bank, the first Wall Street bank that called for a recession, back in April 2022.
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