WASHINGTON, DC – DECEMBER 11: Federal Reserve Board Chairman Jerome Powell speaks during a news … [+] conference December 11, 2019 in Washington, DC. The Federal Reserve announced that interest rate will remain unchanged after two days of meeting. (Photo by Alex Wong/Getty Images)
Much has happened economically in the past couple of weeks including the Fed’s communication that it does not expect any rate actions in 2020, a Conservative Party sweep in the UK (which pays well in the U.S. for free marketeers), and a supposed “Phase 1” trade pact, although there won’t be a signed document until sometime in January (still time for Lucy to pull the football away – again!).
No rate hikes in 2020. Markets, of course,