The View from 5th Avenue – 23 September 2025

Focus today was on the speakers, from President Trump to Fed representatives to Chairman Powell. Traders were tasked with sifting through the headlines, looking for clues on how the board was leaning for the last two meetings of 2025. Fed Governor Bowman kicked it off this morning by saying the Fed is “at serious risk of being behind the curve” and if the labor market deteriorates, they will need to “adjust policy at a faster pace and to a larger degree going forward”. Fed Atlanta Fed President…

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