Powell Keeps The Bond Bull Kicking
The Fed announced that they are going to stop unloading the balance sheet in September.
In spite of record low unemployment, you would think this is the last thing the Fed would do. With an economy on fire, that is the best time to tighten. We find the Fed is doing the opposite.
Perhaps the Fed is correct and Chairman Powell understands what is going on. The global economy is looking sluggish. The mantra that the economy is on firm footing and the market heading up endless is a mirage.
Things are starting to go awry.
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