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Jack, Joseph Wang, and Mike Ippolito break down the January Fed meeting. Recorded shortly after the Powell press conference on January 31, 2024.
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Timestamps:
(00:00) Introduction
(00:41) Joseph's View on Jan FOMC: "This Was A Hawkish Fed Conference"
(07:51) Joseph's View On Asset Prices
(10:04) Joseph's View on Rates
(20:52) Vaneck Ad
(21:37) The Plumbing Of How The Government & Fed Prints Money
(32:41) Treasury Issuance (QRA, Quarterly Refunding Announcement)
(39:01) Joseph's View on Fed's Quantitative Tightening (QT): Taper Could Likely Begin In Q4 2024
(44:57) Fed's Plan For Discount Window & End Of Bank Term Funding Program (BTFP)
(49:31) Joseph Wang: Fiscal Deficits Will Likely Continue To Fuel Bull Market In Risk Assets
(52:19) Concentration of Stock Market Rally
(01:00:12) Jack Puts On Tin Foil Hat Re: Fed Language & New York Community Bank (NYCB)
(01:02:44) Closing Thoughts: Plumbing People Are Not Always Bearish!!
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.