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Need to Know: With Fed’s cards on the table, ‘not a bad time’ to take profits, advises Guggenheim’s Minerd

Does the Fed know something investors don’t?

That’s one big takeaway from what some are calling a “bizarre” Fed meeting on Wednesday, which saw Chairman Jerome Powell and fellow policy makers pull another surprise by signaling they expect to see no rate hikes this year.

But take that 180-degree Fed turn with a pinch of salt, advises Naeem Aslam, chief market analyst at ThinkMarkets. In his view, it would “only take a couple of strong economic readings before we see the pressure building up again on the Fed.” So do like Powell says maybe and “be patient and watch and wait to see how things evolve.

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