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.
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.
