The stock market continues to impress. Nothing seems to be able to stop it. This is bringing a false sense of security that the Federal Reserve is all-knowing and will not allow the economy or the stock market to ever falter again. Ignoring the Fed's inflation fight in 2022 the
Jerome Powell is a wizard. He has continuously been wrong yet whenever he says something the market (temporarily) believes he has the ability to predict our economic future. At the last Fed meeting in April, Chair Powell said the Fed was 'not far' from the first rate cut. At the
The Wall Street cheerleaders who have been urging the Fed to cut interest rates because of the increasing financial stress apparently did not get the memo from consumers based on the current spending data, which accelerated in March following a 'slowdown' in February. March consumer spending was up 5.9%
When helping clients, advisors, and students understand the market I often say, "the market is a forward looking mechanism". Essentially today's prices are the present value of all future income streams. This requires a lot of projections (guessing) about what will come in the future. Interest rate levels and inflation
I have always said you can tell a lot about a person from what they choose to read (or in today's world if they still read). I didn't always enjoy reading, but my 11th grade American Literature teacher helped me find books that I enjoyed which fostered a love of
