“Restoring price stability is something we have to do,” Jerome Powell said Wednesday, during remarks to reporters following a second consecutive 75bps rate hike from
Day: July 27, 2022
Trapped Fed Goes Big Again With Recession Looming
The Fed hiked rates by the most since 1994 for the second consecutive meeting on Wednesday. Put differently, the Fed hiked rates by the most
A Sturdy Corporate America Defies Doomsayers. So Far
The “profit reckoning” thesis is in jeopardy. Although a tsunami of key reports, including results from Apple and Amazon, could yet tilt the zeitgeist back
‘Tumbling Down’: Pending Home Sales Plunge, Mortgage Activity Evaporates
Another day, another dour read (or two) on the US housing market. Pending home sales tumbled in June, data out Wednesday showed, underscoring the fragility
Bear Market Rally: Who’s Buying And Who’s Not Selling
Capitulation in equities is “only partial.” That was the message from Barclays at a critical juncture for markets. I realize “critical juncture” is overused. It’s
