The FOMC meeting minutes from December 13, 2023, indicate a slowdown in economic activity compared to the third quarter, with continued but moderated job gains and a persistent low unemployment rate. Inflation, though eased from the previous year, remains elevated. The U.S. banking system is described as resilient, but there are concerns about tighter financial conditions impacting the economy and inflation. The Federal Reserve maintains its target for the federal funds rate at 5-1/4 to 5-1/2 percent, underscoring its commitment to achieving maximum employment and a 2 percent inflation rate over the long term. The Committee will continue to adjust its policy based on economic and financial developments, including the effects of its cumulative policy tightening. Key decisions include maintaining the interest rate on reserve balances at 5.4 percent and conducting various open market operations, with a unanimous vote from Federal Reserve members including Chair Jerome Powell and Vice Chair John Williams.
TRADE IDEA FROM MARK ==================== I wanted to offer a trade idea and get your feedback. It’s a small $1 iron condor spread on the IWM September quarterly’s, so it’s over in a relatively short time, but has a potential decent return. Although the IWM has been going up pretty strong the past two weeks (see chart below), I’m expecting a leveling out or lower rate of increase over the next 15 days which should keep it within the IC range. The credit is $.28, not a huge amount, but still decent for the risk. Remarks : Looks good to me. Range of IWM by 10/1 , I am expecting between 61 -58
