They Know Nothing

They Know Nothing

Thursday the Fed raised the Fed Funds Rate 75 basis points to 3.0-3.25% as expected. What surprised me – and the market – was the continued hawkishness implied by the “dot plot” – the Fed’s expectation of where interest rates…

Will The Fed Overshoot?

Will The Fed Overshoot?

The stock market has suffered a nasty correction in the wake of Fed Chair Powell’s hawkish remarks at Jackson Hole two weeks ago. While the Fed is right that letting inflation linger would be a grave mistake they could also…