The Fed cut rates again last week, and the reaction was "meh."


Romeo Razi, CPA

Nov 2nd

🏦The Fed cut rates again last week, and the reaction was "meh."

Jerome Powell pulled the trigger one more time, slicing rates from 4.00% to 3.75%.

Romeo, is this "Boo-yah"? Nope!

Mr. Market responded like a kid with too many toys: unimpressed and still whining for more. Because no sooner had J‑Pow sat down to finish his sentence, Wall St. leaned in and whispered, “Daddy... December too, right?”

Embracing his inner "Tall Paul" Volcker (minus the cigar and spine), he mumbled something about "driving through fog."

Translation: There's no cut coming in December, because I don't know what's going on... and neither do you.

The Highlights (minus the Fed-Speak)

✔️ Yes, they cut. 3.75% is the new benchmark. But no one’s waving “Mission Accomplished” signs.
⚠️ Market shrugged. Rate cuts usually juice stocks, but this time the S&P blinked.
🧭 Another cut? December cut is far from certain. Wall Street hates "maybes" almost as much as taxes.
📊 Missing data. The government shutdown delayed key economic reports.
🔄 Risk‑management mode. The Fed’s playing defense: trying not to crash the job market or let inflation sneak back.

🧠Romeo, didn't this happen in the 70s? Why's it different this time?

It feels a little ‘70s-ish, but there's a big difference between inflation then, and now.

Back then: banks were lending like it was Studio 54. Boomers were coming of age, and easy credit was everywhere. In the 70s, it was the private-sector boom that drove inflation.

Today: it’s Uncle Sam with the credit card. Stimulus. Pandemic payouts. Trillion-dollar deficits like it’s a TikTok trend.

So Tall Paul could spike interest rates, and the banks would stop lending, and thereby inflation would tap-out.

J Pow can't do that, because even if he does, Congress won't stop spending.

As my old nostalgic Board Ape bros used to tweet:
NGMI.


🎭Government still closed

Day 33 of the government shut down and here's what we're missing:

🚫 SNAP Benefits (Food Stamps)
↳ November payments? Hanging by a thread. Some states already issuing IOUs.

📉 Economic Data Reports
↳ Jobs, inflation, GDP. I heard the ADP is holding out too. Hey, we're all on break I guess.

📬 IRS Processing & Taxpayer Services
↳ Got questions? Too bad. Need your refund sooner? Get in line. All good for avoiding audits, terrible if you need something from them, especially your refund.

🧪 Scientific Research (NIH, NASA, etc.)
↳ Cures, climate, space missions, all paused. Hope you weren’t working on anything important.

🌳 National Parks
↳ Want to visit a national park? Bring your own ranger.

👮 Federal Law Enforcement Hiring & Training
↳ FBI, DEA, ATF hiring frozen. Criminals, you may proceed.

🧾 Small Business Loan Approvals (SBA)
↳ Trying to open a donut shop? Sorry, bureaucracy is still on break.

🏛️ Congressional Productivity
↳ Let’s be real. This one was shut down years ago.

We’re past the “symbolic standoff” stage and fully into “accidental experiment in what happens when you let children run a budget.”

TBH, I'm ready for term limits, for not only POTUS, but also Congress.

Who's with me?


🏠 Housing Corner

Interest rates jumped the last couple of weeks. All the news is that housing's stagnant, and owners aren't lowering prices fast enough.

On top of that, POTUS meandering in the Middle East isn't instilling any confidence in the housing market back home.

💹

Interest Rates


6.43%

🏡 🏡 🏡
Inventory


705,663

🧊

Days on Market


126 days

Here's a quick list of the housing stats over the last 1 weeks:

🏠 Mortgage rates: 6.43% (up a quarter point)
📈 Inventory: 705,663 homes (up sellers, less buyers)
📉 Price reductions? 33.4% (overall pricing adjustments still going down)
💰 Median list price? $434,900 (but median prices going up)
🕰️ Days on market? 126 (moving a little quicker).


Market Highlights

Flat Market this week


~ S&P $6,841 (-0.16%)
~
NASDAQ $23,577 (+0.70%)
~
BTC $92,088 (-1.35%)
~ Gold $4,244 (+0.17%)

fdsaf


What's been going on with your Favorite CPA

Oh, just a little light slab surgery.

Found a leak in a copper pipe under the foundation. So now I get to re‑pipe the entire house. Because nothing says “fun” like plumbing decisions that involve re-routing pipes.

But here’s the silver lining:
💧 I now believe in PEX the way some people believe in astrology.
💸 Copper may be valuable, but not when it’s leaking under your bathroom tile.
🛠️ This week’s tax prep has been brought to you live from a construction zone.

Send your thoughts, prayers, and plumbing tape.


Until next week, ❤️

Romeo Razi, CPA

Taxedright.com

600 1st Ave, Ste 330 PMB 92768, Seattle, WA 98104-2246
Unsubscribe · Preferences

Tax Ticker

A weekly newsletter for people who want to understand money without needing therapy afterward. I cover accounting, tax, and finance the way they should be taught. Simple, sharp, and with a sense of humor. If knowledge is power, this one’s your caffeine shot.

Read more from Tax Ticker

Romeo Razi, CPA Mar 29th 👴🏻Social Security is running out fast 🛡️Social Security is the government pension system that was created by F.D.R. during the Great Depression as part of his "New Deal". Unfortunately, the "New Deal" is starting to look a lot like a scheme Charles Ponzi would be proud of. It used to be a very safe asset, but between LBJ's '68 Unified Budget (think Vietnam war) and Greenspan's '83 Budget Reform (when the surplus started getting too big), Congress decided to do what it...

Romeo Razi, CPA Mar 15th 😶The State of Washington just did a boo-boo. The State of Washington, famous (among tax aficionados) just made a spectacular U-turn on one of their most coveted and prized policies: No State Income Tax. The legislature has been asked to vote on a state income tax 10 times. Ten times they said "Nay." Ten times, voters treated the idea like a bad Gen Z blind date. Declined politely, and ghost👻. Then came March 10th, 2026. A date that will live in Seattleite tax infamy....

Romeo Razi, CPA Mar 1st 😶Yes, I am still alive People ask me (when they get a hold of me), "Romeo, what did you do yesterday?" Here is my day, in a nutshell: 7am: go to gym 🏋️ (weights) 8am: 💻tax work until 10am. Deep focus. No Mercy. 10am: breakfast 10:30am: 💻tax work until 1pm 1pm: protein smoothie 1:25pm: 💻tax work until 4pm 4pm: rest for 30 minutes, calculate macros on app, what I'm eating tonight 4:30pm: gym 🏋️round two (cardio) 5:30pm: make dinner 👨🍳(it's therapy, I swear) 6-6:30pm:...