Why The Fed Is Done....
There are three major reasons the Fed is done raising rates. Before the Federal reserve decision announced last week there was a 28% chance of a rate hike. By Friday there is now only a 4.6% chance.
Three major events happened last week that were unexpected.
Non Farm Payrolls previous month was reduced by 100,000 and this month came in significantly lower than expected. This gave us one of the biggest misses on NFP in years.
Manufacturing PMI missed by one of the largest margins in years showing that the contraction in the economy is happening faster than expected.
For a fully comprehensive understanding of what transpired last week to solidify the Fed is done watch this video starting at 7:48 timestamp