As we all recover from tryptophan-induced comas due to our Thanksgiving turkey, the market seems to be waking up as well. Yesterday, Fed Chair Jerome Powell gave a speech which seemed to confirm the emerging “lower, but higher” consensus about interest rates. In his remarks, Powell said it made sense to “moderate the pace of our rate increases” to a level sufficient to bring inflation down. In other words, December’s anticipated rate hike will likely be 0.5% rather than the recent trend of 0.75%. That was enough to spark a relief rally in afternoon trading, sending the S&P 500 higher… Read More
As we all recover from tryptophan-induced comas due to our Thanksgiving turkey, the market seems to be waking up as well. Yesterday, Fed Chair Jerome Powell gave a speech which seemed to confirm the emerging “lower, but higher” consensus about interest rates. In his remarks, Powell said it made sense to “moderate the pace of our rate increases” to a level sufficient to bring inflation down. In other words, December’s anticipated rate hike will likely be 0.5% rather than the recent trend of 0.75%. That was enough to spark a relief rally in afternoon trading, sending the S&P 500 higher by more than 3%. The Nasdaq, meanwhile, leapt by 4.4%. As we prepare for the end of the year, we’ll certainly stay on top of things. And who knows, we may even have a couple of surprises in store for our loyal readers… In the meantime, I want to turn to one of our friends over at Investing Daily, Jim Fink. For some of you, the interview below will be a reintroduction. But for those of you getting to know him for the first time, Jim is an impressive guy who has a ton of credentials and isn’t afraid to… Read More