Some Wall Street analysts believe any losses from now on will be on Trump after the central bank pulled off a complete 180, cutting rates three straight times this year.
"The Fed has put the ball firmly in President Trump's court," says Matthew Maley, chief market strategist at Miller Tabak."The Fed gave the market what it expected and they are not going to give them anything more anytime soon. It's all about China," says Peter Boockvar, chief investment officer at Bleakley Advisory Group.
"The Fed has put the ball firmly in President Trump's court," Matthew Maley, chief market strategist at Miller Tabak, said in a note on Thursday. "They've cut interest rates THREE times … and they've begun a QE program . What more could Mr. Trump ask for?"by a total of 75 basis points this year, after hiking the borrowing cost four times in 2018.
"The Fed is doing its job; I believe the Fed has been dynamic and responsive," said Mike Loewengart, vice president of investment strategy at E*TRADE Financial. "The markets are going to be bound the day-to-day news cycle on any type of progress on trade."
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