BUT THAT’S NOT WHAT I WANTED!

Last week, markets were about as happy as a toddler opening a gift they didn’t like. 

The first upsetting event followed the Federal Reserve (Fed)’s final policy meeting for 2024. The Fed met expectations by lowering its policy rate one-quarter of a percentage point, as many economists had anticipated. The federal funds rate is now a full percentage point lower than it was at the start of September.