There is a lot of economic news to digest between now and the next meeting. If we see economic signs that are positive, then that would encourage the Fed to stay on the course of gradual rate hikes, but if things slow down then maybe they would skip a meeting or two.
More Quotes from Barry Ritholtz:
We very much benefited this year from the still-low interest rates, with the Home Depot's and Lowe's of the world doing well, ... The whole universe of homebuilders and mortgagers did really well, too, but as interest rates continue to rise next year, that's going to dry up some.Barry Ritholtz
We need to see a confirmation in the next few weeks. We need another session of gains of 1 to 2 percent for all the major indexes before I'll be confident that this is a bottom.
Barry Ritholtz
The only dark cloud to this number is that now the Fed has no reason whatsoever to stop raising rates.
Barry Ritholtz
The Fed doesn't have to jack up rates really quickly since other economic indicators are softening. Capital expenditures are modest and employment figures are anemic, so the biggest danger the Fed faces is smothering the recovery.
Barry Ritholtz
There was a lot of trepidation on Monday after Friday's sell-off and when things didn't go from bad to worse, it has emboldened dip buyers to step in. But most of the investment community hasn't realized that the economy is slowing and that earnings are reflecting that and valuations are going to have to be adjusted.
Barry Ritholtz
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