RESOLVING THE LEDGER
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For the first time in several quarters, there's genuine uncertainty around what the Federal Reserve is going to do at its upcoming July 28-29 meeting.
According to the latest dot plot report, about half of the Fed's voting members favor a rate hike by year-end, while the other half don't. New chair Kevin Warsh himself decided not to submit his own economic projection in June and has been vague about where and when he thinks rates will move next. The only real indication he's given is that he has "no tolerance" for high inflation.
The markets hate uncertainty, and this situation is loaded with it. So how should you position your portfolio heading into the July Fed meeting? The best solution might be the simplest one.
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