MARKET MADNESS

Markets slumped badly today for two reasons. While the Fed cut rates 25bps as expected, it plans to cut rates less in 2025, but don’t worry, this Fed will change its mind, it always does. Also, a stop-gap bill to avoid a Friday government closure is on life support due to internal Republican public infighting between Speaker Johnson, President-elect Trump, and Elon Musk. The Republican circular firing squad has reassembled.