Good Wednesday morning. Quick Hitters this AM

1) All eyes are on the Fed’s FOMC statement at 2PM EST, followed 30 minutes later by J Powells presser. We think we can save you some trouble and maybe some anxiety…today “should” be a nothing burger….which means the markets should like it. We’ve had slight misses to inflationary reports over the last 2 months, but the key is they were “slight” misses, as the US (and global) economies have remained strong.

Tyler covered the Fed’s recent (interesting) actions and reactions under J Powell yesterday…I’ll do my best to match his efforts in today’s podcast, after the close.

Market watcher Bryan Rich, one of our favorites, had this to say last night:

"The markets decline was an overreaction.  Why? Remember, we're in a productivity boom!

We averaged just 1% productivity growth for the decade prior to the pandemic, and negative 0.7% from the fourth quarter of 2020 through early last year.   Since then, productivity growth has average...