Since at least Jackson Hole, the narrative has been that inflation is a big problem, and the Federal Reserve was up for the fight—certifying it would raise interest rates quickly, substantially, and for a long time. Powell gave his “tough-love” speech on August 26th when the S&P 500 was at 4,200 and the Treasury yield was near 3%.
Oct
31
2022
An INEXPLICABLE Stock Market
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