Planning Briefs
Fed Actions Are Driving Markets
Published Wednesday, October 30, 2019 at: 7:00 AM EDT
It's notable that the stock market in 2019 has not suffered a 10% correction on worries about the China trade confrontation, the manufacturing slump or concerns about the U.S. political situation — three bad-news narratives currently haunting markets.
But look at this: The three major stock market drops in the past year were all related to the Federal Reserve Board's actions.
Since the Fed backed off its forecast for rising rates and inflation in January, consumer spending and income have been about as strong as they have ever been in post-War American history!
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