As of late, various economists have been discussing the softening economic data for the first quarter of 2017. Today, the Federal Reserve spoke of this, although maintaining a positive view of the future and re-affirming their stance on future rate hikes …
“Federal Reserve officials remained on track to gradually tighten monetary policy after leaving interest rates unchanged and signaling they were not alarmed by recent U.S. economic weakness.
“The committee views the slowing in growth during the first quarter as likely to be transitory,” the Federal Open Market Committee said in a statement Wednesday following a two-day meeting in Washington. “Near-term risks to the economic outlook appear roughly balanced.”
U.S. central bankers were unusually explicit in their statement, indicating that a disappointing first quarter, in which the economy grew at an annualized rate of 0.7 percent, would not knock the committee off its plan to raise rates two more times this year after a hike in March
For us? It was a quiet, but profitable day. A trader who is a favored commentator here at Sharpe Trade mentioned a few weeks back that he was interested in a long in Target (TGT). Running it through our process, we decided to take a measured risk and be long from $56.12; which we decided to freely share in the StockTwits stream. We remain long, and today, Target (TGT) enjoyed a nice 2.10% rally.