Asks for analysis of the Fed's decision, noting social media calls it QE.
Katie Greifeld
Darius Dale
This was one of the most historic FOMC events. The Fed, amid an affordability crisis, said it must expand its balance sheet to provide liquidity for hedge fund leverage and retail margin debt. This is a significant sea change and erosion of central bank independence.
Asks if markets can ever stand on their own again without Fed support.
Romaine Bostick
Darius Dale
It seems unlikely from this starting point; we are multiple cycles away from that moment. Currently, growth, inflation, monetary policy, fiscal policy, and liquidity cycles are all positive. Only positioning is an issue, but it's not a catalyst.
Asks if the AI buildout is now a macro story the Fed must deal with.
Romaine Bostick
Darius Dale
The Fed will be dealing with it anyway. We are very much in the early innings of what could be a bubble. You don't want to be short that or fight it.
Asks if the AI bubble will just expand from here.
Katie Greifeld
Darius Dale
When bubbles are inflating, you want to be long. Go buy them. It's pretty straightforward.