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Hours From the Fed: A Rate Hike, Depleted Missiles, and Expensive Tech
The Fed decides at 2pm today, and I still have lingering doubts about whether they hike, even with the market convinced.
The defense theme is front and center after the Pentagon's first Iran-war inspector general report, which found that heavy munitions use during Operation Epic Fury left strategic inventory shortfalls and exposed industrial-base bottlenecks in restocking. To me that validates the reshoring and defense case I have made from the start: the weaponry has to be rebuilt, those order backlogs are real and unlikely to be canceled, and it is why I hold names like Lockheed Martin and…
The skinny
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