Posted To: MBS Commentary
We’ve been pining for this particular Fed day for weeks, at least. In fact, as early as June 1st, we pointed out that Fed speakers seemed to suggest their decision-making hands were tied until they could observe labor market changes at the start of the new school year. Then in late July, we added the delta variant to that conversation as another reason to delay a tapering decision. Epidemiologists guessed that case counts would peak in late August. They were pretty close based on weekly numbers peaking in early September. The Fed could take some solace in that fact–especially considering school has been back in session for several weeks and daily case counts are still declining week-over-week in most states. The counterpoint is that the cases/deaths chart still looks like this: In other…(read more)
