Market Highs and Fed Surprises: Navigating the Economic Ups and Downs with My Momentum Plays

December 17th, 2023 Update

[I asked ChatGPT to rewrite my post this week in a style I like. Let me know if you like the experiment]

Last week? Oh man, it was like the financial world's version of a season finale. The FED Governor, you know, the big boss of U.S. money stuff, finally spilled the beans after that nail-biting CPI report.

So here's the scoop: Jerome Powell, the head honcho at the Federal Reserve, comes out and says, "Hey, we're keeping the federal funds rate steady at 5.25-5.50%." But wait, there's a twist! He's also eyeing three rate cuts in 2024. Yeah, you heard that right. But, and it's a big but, this is only if inflation decides to play nice and cool down.

But Powell, he's a cautious guy. He's like that friend who won't jump into the pool until he's dipped a toe in. He's not ruling out more rate hikes if they're needed to hit that elusive 2% inflation target. He's seen some progress in cooling inflation, but let's be real, it's still hotter than a summer day in Death Valley.

The U.S. economy is fle…