US Federal Reserve

One look at WTI, RBOB, and VIX today and it's clear the algos are in charge... don't play...

Post-Fed, Gold was the biggest winner...

As rate-hike odds dropped...

With gold gaining, dollar declining, a flattening yield curve, and a market not buying The Fed's 3-hikes plan, Janet and her band of merry-men (and women) had to do something to get investors' confidence back to signal 'March is live', as Trumponomics dominates the conversation, but it appears they failed.

From Mark Cudmore, former FX trader who now writes for Bloomberg

Fed Can’t Help Dollar Bulls in Denial

Expect the Fed to take out one of the last pillars of dollar support today.

Dollar bulls are still not capitulating despite it being on target for a sixth consecutive week of losses. While some doubts are finally starting to creep in, the majority of analyst notes this week suggest the FOMC can put the dollar uptrend back on track. I’m surprised.

Despite today's unexpectedly strong ADP and ISM report, which however followed a disappointing Q4 GDP print, the FOMC meeting at 2pm should be largely uneventful. The Federal Reserve, which won't have seen Friday's payroll report yet, will only release its statement without a press conference or Summary of Economic Projections. This offers market participants less information to digest and react to, and therefore consensus expects no change from the Fed.

Another Goldman Sachs Administration?

Nomi Prins says that based on the past history of Goldman Sachs executives in public service, President Trump’s appointment of Goldman Sachs alumni Steven Mnuchin and Gary Cohn means that the one percent of the one percent will continue to feast on the rest of us.

The Goldman Sachs Effect
How a Bank Conquered Washington
By Nomi Prins