VOO - Weekly Commentary: Doing Harm With Uber-Dovish

This week's FOMC meeting will be debated for years - perhaps even decades. The Fed essentially pre-committed to no rate hike in 2019. The committee downgraded both its growth and inflation forecasts. Having all at once turned of little consequence, we can now dismiss the 3.8% unemployment rate and the strongest wage growth in a decade. Moreover, the Fed announced it would be scaling back and then winding down balance sheet "normalization" by September. This put an impressive exclamation point on a historic policy shift since the December 19th meeting. At least for me, it

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