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

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
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