The Stock Market Is Doing The Work Of The Fed

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šŸ“ˆšŸ“ˆ Goldmanā€™s Financial Conditions Index is actually the equivalent of fed funds basis points (bps). So, November’s record easing of financial conditions was the equivalent of 90 bps of Fed cuts. The financial market’s November rally did “the work of the Fed” to the tune of four 25 bps cuts in the month of November
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