© Reuters. FILE PHOTO: A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermid/File Photo
A look at the day ahead in U.S. and global markets from Mike Dolan
As Wall Street mourns the passing of 99-year-old investment legend Charlie Munger, Federal Reserve top brass gave one of the clearest signals yet that the central bank’s 20-month tightening campaign is over at last.
The death of Berkshire Hathaway (NYSE:)’s Munger leaves 93-year Warren Buffett without his long-term lieutenant and the conglomerate’s lone star name, focusing minds on long-planned succession and the lesser-known managers due to take over.
But back in the markets, the Fed’s policy pivot was all the rage as Treasury yields and dollar plunged anew.
Fed Governor Christopher Waller, a hawkish and influential voice at the central bank and seen to be close in thinking to Fed boss Jerome Powell, clearly indicated the Fed’s swingeing rate hiking was over as current settings bear down on inflation.
“I am increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2%,” he said, and also…
Read the full article here