Long weekends are a good time to relax, reflect, and plan. Historically the end of Labor Day weekend also marked the time the 'head honchos' from Wall Street returned to the office with fresh ideas and some big portfolio adjustments to make. With everyone able to work remotely now, I'm
This year I've marveled about the optimism shown by market participants and Wall Street experts alike who truly believe the Fed has reigned in inflation and would not cause a recession (or even a slowdown in earnings). They also believed the Fed would be stopping their rate hikes soon, which
"It is likely that restoring price stability will require holding policy at a restrictive level for some time. History cautions strongly against prematurely loosening policy. We will stay the course until the job is done." - Federal Reserve Chairman Jerome Powell, November 30, 2022
The above statement is the only
The Federal Reserve has been going out of their way to tell the stock and bond market that they will be focusing solely on taming inflation and won't be looking to stimulate the economy unless inflation is under control. Too much money floating around the system led to too much
Talk about conflicting data points. Two weeks ago the data told us we just had our second consecutive decline in economic output (which used to be how we defined a recession). Last week, we learned the labor market fully recovered all of the jobs lost during the short pandemic recession.
