Higher Stocks ‘Antithetical’ To Fed’s Goals, Goldman Says

Higher stock prices "would ease financial conditions and therefore be antithetical to the Fed’s goal," Goldman's David Kostin wrote, in a note published following the S&P's fifth consecutive weekly decline. It's a familiar refrain. Regular readers are well apprised of the dynamics. On Thursday, amid an egregious slide in US shares, I suggested the Fed might've been pleased to see equities give back gains logged the previous afternoon, when Jerome Powell's repudiation of rate hike increme