The Fed Saved the Rally

It wasn’t Nvidia that saved the rally in November. It was the Fed. What was looking like a remote chance of a December rate cut, with a mere 30% probability 4 weeks ago, the central bank switched gears and lowered borrowing costs again this week. There has been much debate about this within the Fed’s Open Market Committee. They’re the ones who vote. There are twelve of them. The Fed Chair has been cautious and reluctant to cut more, as prices remain elevated. But the rate of inflation has definitely declined. It’s evident in Energy prices, Dairy prices, Lumber and other agricultural crops. They’ve come down. All other prices are just going up at a slower rate than the past couple of years. At least for now...