Markets are convinced that the Federal Reserve (Fed) is going to pause its interest rate campaign after it finalizes its Federal Open Market Committee (FOMC) meeting on Wednesday, September 20. While markets are trying to guess what the Fed is going to do, they are not the ones that conduct monetary policy. Monetary policy is the realm of the Fed, which is the country’s central bank. However, we agree that many times, the Fed does what the market is expecting it to do and, today, markets are expecting the Fed to stay put or pause in September. However, unless Fed officials change their minds regarding interest rates ... (full story)