Some of us can cook and some of us can’t. Friends and family thrive when we learn which side we really fall on. In my 20’s, I tried to make Mushroom Mousaka with sunflower seeds. It sounded delicious and it might have been—if I’d shelled the sunflower seeds. Now my wife does the cooking and things work far better.
The Federal Reserve is charged—more or less—with cooking up a good economy. But serving a healthy economy is just a bit more complicated than soup and investors were clearly worried about indigestion in the run up to Wednesday’s Fed meeting. They were concerned the Fed might hike the “federal funds rate”, a fear which led investors to start selling bonds which led to a quick hike in mortgage rates. These fears did not materialize and instead the Fed said it will be “appropriate to maintain the current target range for the federal funds rate for a considerable time.”
The Fed also commented that current economic factors are “balanced”, which was a way of saying, “there’s some good things and bad things happening, so we don’t really know where things are headed and thus we won’t do much of anything.”
It was an exceedingly cautious play by our Economic chefs. But investors like their food bland and mortgage rates went back to moderate levels. A happy appetizer for the summer market but the question remains: will such edibles result in our improved heath and enjoyment? Only time will tell if they’ve burned the fish or thrown in too much garlic (leading to dire gastronomic results). But come what may you’d best get your knife and fork out ‘cause dinner is served.