Market goes "yeaaaaah"! Wouldn't be too complacent about it.... just delays rate hike for now that will be "caught-up" and implemented later. Trade accordingly.
As crude oil approaches $120.00 man these FOMC clowns are playing with fire. There is a serious shortage of fertilizer in the US right now. Crops don't grow that well with out it. We are one small disaster away from hyper inflation. Yet these clowns think more paper money will fix everything. Currently the average house hold is paying $400.00 more per month all due to inflation. I don't see it getting any better most likely much worse. Better start working my back yard for planting.
As I said many times, Fed can't control inflation. Even Fed raises rate by a whole 1%, it won't make crude oil come down. Same with corn, wheat and soy bean prices. It will only kill housing market and reduce both retail and wholesale demand. That will bring recession. This is why Biden is asking American to tighten belts. Good for ladies to lose weights.
What evidence do you have for this assertion? They have pretty much runaway inflation in everything, and this is the most they were willing to do. They are hoping that it fixes itself and will be the new world champion "kick the can" team.
USO move getting scary at least to me. Already going parabolic on the Daily chart, about to start a short squeeze on weekly and potentially even monthly time frame. Likely going to 81.40 at least, if not higher. Also good probability that this new monthly candle finishes near the highs. As long as above 70.34 it's a 100% long...not that it isn't obviously a long already.
Raising interest rates, the Federal Reserve is behind the 8 ball. Waiting and waiting to raise interest rates as inflation raged and now, threatening to get out of control totally. Too little and too late. Oil is now $110 per barrel and looks headed higher as the US and Europe continue buying Russian oil. Hilarious that Joe Biden is under the control of green energy special interests and he is only interested in enriching, filthy rich, extreme liberals and their green energy companies. As Putin destroys Ukraine, raw materials the US and Europe needs to manufacture a lot of the things are about to skyrocket. There will be a shortage in commodities exported by Ukraine and this will be Putin's revenge on the US and Europe. Destroy their economies by a huge degree in turn. Talk about unintended consequences. Those sanctions will destroy Russia but, Russia will destroy the economies of the US and Europe as well.