Anticipation of delayed Fed rate cuts positive for status quo momentum trade - Wells Fargo [Seeking Alpha]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Seeking Alpha
by the Federal Reserve's reluctance to start reducing interest rates, according to Wells Fargo. As inflation stall above the Fed's 2% target, investors have been extending the time of when they foresee the Federal Open Market Committee jumpstarting rate cuts. Current pricing suggests the first move will be in September compared with previous expectations of reductions starting in June. Federal Reserve Chair Jerome Powell on Wednesday said economic data suggest the Fed's restrictive monetary policy needs more time to cool inflation. “The pushing back of fed fund expectations remains positive for the Momentum (and market) trade as it keeps the status quo in place,” Chris Harvey, head of equity strategy at Wells Fargo Securities, said in a note Wednesday. The Federal Open Market Committee on Wednesday left the fed funds rate at 5.25%-5.5%. At the margin, the "less-dovish" Fed is negative for the reflation trade, Harvey said, pointing to sectors such as energy, materials and industr
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WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 5/15/24 - Form 424B2
- 5/15/24 - Form 424B2
- 5/15/24 - Form 424B2
- WFC's page on the SEC website