RE:RE:OPEC+ discussion for 1,5 Million or more ...jleer42 wrote: Thanks Red. Regarding the Fed, they don't just want a technical recession they actually want GDP declines and higher unemployment. They were so late recognizing that the inflation wasn't "transitory" I can only see them continuing to be behind and overshooting with interest rate rises.
For OPEC it will also be interesting to see what messaging they include with their quota cuts. I anticipate something of a politely phrased Screw with us at your own risk
And that is the main concern everyone has. They were late in responding, and then they used the term "transitory". Now it's no longer transitory and inflation is the main enemy they want to eliminate even at the risk of destroying the economy. So far the markets haven't bought into this narrative completely as exemplified by today's market activity. I don't think many trust the FED at this point.