So for sure, today is the day that the Fed will unveil their stance on the economy and the future of interest rates. The popular consensus is wagering a 30% chance that they will finally bump the Fed Funds Rate from 0% up to 0.25% (and the Cost of Funds from 0.25% to 0.5%). I don’t know whether they will or won’t, but I think that they’ll try to appease both sides of the debate either way they swing. Consequently, there will be even more confusion about the direction of the economy and half of the people will be unhappy. As always, there is nothing that I can do about it, other than to perhaps consider what a really unprecedented time in our nation’s history that this is as we are going on eight years of zero percent interest rates. And that’s as close as I can get to explaining why I chose to use this picture of a bear shark today.
