Numerous people have been asking Lars Toomre what he thinks the rate change news will be after the Friday morning speech by Federal Reserve chairman Jerome Powell.
Lars' personal opinion (and not that of Brass Rat Capital LLC ("BRC")) is that the Fed attempts to preserve its independence from the White House and capital markets expectations. The Fed probably signals it will do nothing until the US economic data justifies further rate cuts.
The capital markets no doubt will be greatly disappointed. Lars Toomre would not be at all surprised to see a major sell-off in both bonds and stocks!! And of course, the markets move in the direction that cause the most number of parties the most amount of pain!!
https://www.bloomberg.com/news/articles/2019-08-22/jackson-hole-s-greatest-hits-justify-obsessing-over-fed-meeting