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Good evening all.
Oh my what a tangled web we weave!
The Fed announced that they are now not going ahead with the rate hikes they previously planned.
And the reason is,
well, just because!
They have stalled on rate hikes;
Even though the economy is absolutely fine!
And even though the market has undergone the largest and longest rally in history.
And even though interest rates have been pinned near zero for damn near a decade.
And even though debt levels are way too high in every sector of the economy.
The list goes on,
but you get the picture.
here's a quote;
"My FOMC colleagues and I, as well as many private-sector economists,
are forecasting continued solid growth, low unemployment,
and inflation near 2 percent."
We will see about that Mr Powell!
So the FED got spooked over the last few months by the market slide.
They think they caused it,
and now they want to get back on the 'right' side of popular opinion.
By being the saviors of of the bull market.
I think we can call this the last gasp of a dying institution!
When this market plunges into the next depression.
No amount of screw-balling with rates that they do, will stop it.
And the doors of FED may well be bolted shut.
Maybe even with Powell and Co. left inside!
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