FOMC Day: May 7, 2025

No one really expects the FOMC to change interest rates, but a great deal of attention will be paid to Powell’s comments, if any, on the impact tariffs will have on the economy and the Fed’s policy.

The overnight ramp job is ebbing, with futures currently about 10 points higher.

Our charts turned bearish almost a week ago, though there has been less clarity on the extent of a pullback.

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