No Worries?
The market is up since mid-October as inflation shows no signs of retreat. The VIX is at a new low and Fed Chair Powell: "said on Friday it is still unclear if U.S. interest rates will need to rise further, as central bank officials balance uncertainty about the impact of past hikes in borrowing costs and recent bank credit tightening with the fact that inflation is proving hard to control.
In carefully scripted remarks at a Fed research conference in which Powell was interviewed by a top U.S. central bank staffer, the Fed chief reiterated that the central bank would now make decisions "meeting by meeting," but also flagged that after a year of aggressive rate increases, officials "can afford to look at the data and the evolving outlook to make careful assessments."
Still the market tells the story. Well past the middle of "sell in May and go away" upside is all we see.
What to do? Continue buying what goes up until it stops going up... "Unclear, uncertain, undecided - pick one.
In carefully scripted remarks at a Fed research conference in which Powell was interviewed by a top U.S. central bank staffer, the Fed chief reiterated that the central bank would now make decisions "meeting by meeting," but also flagged that after a year of aggressive rate increases, officials "can afford to look at the data and the evolving outlook to make careful assessments."
Still the market tells the story. Well past the middle of "sell in May and go away" upside is all we see.
What to do? Continue buying what goes up until it stops going up... "Unclear, uncertain, undecided - pick one.
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