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The Fed raises 25bp as expected and Jerome Powell says absolutely nothing at the press conference. In fact one of the reporters illustrated how strong the economy is by the Barbie movie sales and Taylor Swift concerts. You can’t make this stuff up. As for trading the rest of the week recognize we have not hit the lower or upper edge of the weekly Expected Move. Something that has been happening recently on Friday of each week. It may feel like summer drift, but be careful out there because volatility may be right around the corner…
