US rate cut imminent
Just a quick note to share a graph showing the US Fed funds target rate (red line), together with the actual effective rate (blue line). In my opinion, it will not come as a surprise to see the FOMC reducing rates by between 50 and 75 basis points very soon, possible still today. (The next scheduled FOMC meeting is on October 28 and 29.)
Source: Plexus Asset Management (based on data from I-Net Bridge)
It looks like another rough day, with the Japanese Nikkei 225 Average down by 9.6%, European markets down by between 6% and 8% and the Dow Jones Industrial Average future down by more than 6% at the time of writing.
We’re not through the rough patch yet. White knuckles and shaky knees …
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