Why a Data-Dependent Federal Reserve Isn't Enough

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So, with the Federal Reserve planning to release its decision about interest rates later this week, what should investors be thinking?

Stephen Guilfoyle, a contributor for Real Money, spoke to TheStreet about the Federal Reserve and what he expects from the decision for TheStreet's Trading Strategies podcast. 

Surprisingly, Guilfoyle says that he agrees with those who argue that the economy doesn't need a rate cut, but that's not why Guilfoyle thinks that the Federal Reserve should cut rates. 

Here's what Guilfoyle thinks. 

"So being data-dependent is really not paying attention when the horses have already left the barn. That's basically watching the horses down the streets saying "Oh look, my horses are gone I'm data-dependent." No, you actually have to close the door when the horses are in the barn. That's something, a lot of academic economists had never really understood. You have to be data anticipatory, not data-dependent," explained Guilfoyle. 

Related. How to Protect Your Portfolio If There's No Trade Deal With China

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