The Dewey Hall Dalia Festival demonstrated the power of flowers to cast a spell on people captivated by the sheer beauty and range of the varieties of flowers within the genus of Dahlia.
Some Fed officials want another cut this year, and others could be convinced to do so if the economic data weakens. The Fed has continued to repeat the line that any decision made — cut, stay or hike — will be “data dependent.”
When it comes to the movement of stock prices and how those prices reflect fundamental data, good vs. bad is largely irrelevant. What matters is not good vs. bad, but better vs. worse.
The chairman appeared to be sending a message to the White House that its trade war is pushing the U.S. toward a recession, and that the Fed may not have the tools to bail us out if that happens.
Last week the Fed pivoted so quickly that all of us watching the press conference got whiplash. The Fed went from expecting two hikes in 2019 to zero. (It did maintain its estimate of one hike in 2020.)
Still, for many investors, significant concerns remain. Some fear that the advance has been nothing more than a rally in a bear market and the Christmas Eve lows will be revisited. Others fear that stock prices have gone “too far, too fast” and now the market is vulnerable to familiar headwinds such as trade talks, slowing earnings growth rates, a government shutdown, or any other of the recent favorites.
This is not going to go well, and the ripple will affect global economies, including the U.S. firms that are growing more skittish about our own economy.
For a moment, I felt it was the 60s again, and I was back marching against the Vietnam War. I felt exhilarated, but I knew I would feel let down a few hours later.
Editor's Note: Outraged by the BRexit vote and inspired by the lunacy of the looming presidential election -- with the spectacle of the Republican convention...
The reasons for the decision in the British Isles is what troubles me most since it could happen here in the United States. Scratch that. It is happening here.
