Josh Brown: Fed Decision Is a 'Very Big No-Big-Deal'
“If you think we had this $5 trillion rally in the stock market over the course of 90 days over absolutely nothing, that’s a really interesting story because that says to me everyone’s wrong and the last people still calling for a recession are right. They might be but there’s very little evidence. Everyone is working, people’s bills are being paid, the market seems fine, the economy seems fine,” Brown said.
The situation could change, and if the Fed, which is holding steady on interest rates for now, instead raised them again to fight inflation, “everyone would be singing a different tune. That’s not what we’re talking about. We’re we’re talking about the first cut moving from March to May. To me it’s a very big no-big-deal.”
Despite the down market Wednesday, Brown noted stocks could climb again on Thursday, which they did. The Dow Jones Industrial Average was up about 190 points around 12:30 p.m. Eastern time.
Photo courtesy of Josh Brown
