Thank God for NY Fed President Williams—12/21/2019 After his 2nd blunder in 3 months, Fed Chair Powell was saved today by NY Fed Presdient Williams. President Williams was interviewed on CNBC today around 10:10 am. Up until that time the market was up, but trending lower. As he spoke, the market rallied hard to the […]
Trump won’t sign spending bill..markets fall AGAIN!!!—12/20/2018 Year-end historically means the Santa Claus rally. NOT THIS YEAR!!!! Fed Chair Powell ruined the party yesterday and now Trump and Congress are taking it to another level with their fight over border security and the spending bill. Trump wants his wall to be built and won’t sign […]
Fed Chair Proves His Ignorance—12/19/2018 The Fed raised rates today, as expected, and had a slightly more dovish tone regarding their ideas on future interest rates hikes. However during Fed Chair Powell’s press conference, he proved his ignorance about the market’s main concern; the reduction of the Fed’s balance sheet. The Fed is reducing it’s […]
China Misses Growth Expectations—12/14/2018 China reported economic data that missed expectations and the market is selling off…again. This concern over global growth is the latest worry that has Wall Street’s attention. https://www.cnbc.com/2018/12/14/china-reports-november-fixed-asset-investment-industrial-production.html
Trump and Xi Meet—-12/3/2018 Over the weekend, at the G-20 meeting, President’s Trump and Xi meet to discuss the trade tensions/Trade War between the U.S. and China. The gist of the meeting was that the Trade War will take a pause for 90 days. The world financial markets are hoping that these two leaders can […]
Powell Turns Less Hawkish—-11/28/2018 Fed Chair Powell gave a speech in which he said that interest rates are closer to neutral rather than still accomodative. This has eased the markets concerns that he was going to keep the hammer down and raise rates indefinitely, which would run the risk of destroying the economy. As I […]
Markets Continuing to be Jittery—-11/12/2018 After a nice rally last week, the markets started to sell off again after the Fed meeting. I believe the reason is two fold: 1) Fed Chair Powell gave no indication that he will stop raising rates. 2) There is no trade deal with China Regarding the first point, the […]
Mid-Term Elections are over…and the Market is rallying!!—11/7/2018 Last night saw the Democrats take control of the House and the Republicans retain control of the Senate. Historically, markets love a gridlocked Congress. As I type this, the Dow is up over 500 points. Looks like the market liked those election results.
Another Amazing Jobs Report!—-11/2/2018 Not only are we seeing continued jobs growth, but wages are now accelerating by more than a 3% clip. Unemployment rate at 3.7% is the best since the 1960s and Wage Growth over 3% is the best since 2009. This economy is booming!!! https://www.cnbc.com/2018/11/02/us-created-250000-jobs-in-oct-vs-190000-jobs-expected.html
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