Wall Street Has a Federal Reserve Problem -- and Things Could Get Ugly for the Stock Market in 2026

In late October, the FOMC voted 10-2 to reduce the federal funds rate by 25 basis points to a range of 3.75% to 4.00%. While non-unanimous FOMC votes have occurred from time to time, what Wall Street and investors witnessed in October was truly dubious.The FOMC can also purchase or sell long-term Treasury bonds, which would raise or lower long-term yields depending on the action (note: bond prices and bond yields are inversely related).Fed Chair Jerome Powell and the 11 other members of the Federal Open Mar ...