Economic Growth Continues To Slow
In a shorter-than-normal week, the biggest piece of news out of the economic data was the Federal Reserve’s Beige Book.
One Thing Leads To Another
The buildup in pandemic relief, the mismanagement of inflation, and the bad policy decisions during the pandemic - all chickens are now coming home to roost.
Soft Landing By The Fed Looks Unlikely
Markets are experiencing a relief rally as sellers have ruled the day for the past 7 weeks. Equities have been over-sold for quite some time, but the fundamentals at this point do not support a lengthy move higher.
Working 9 To 5
Inflation has reached levels not seen since the early 1980s. Workers are unhappy, consumers are stretched to make ends meet, and there's a general malaise in the country.
The American Consumer Is The Key
Equities tried to make some progress early in the week, but finished lower overall for the week.
"It's Hard To Hold A Candle In The Cold November Rain"
Investors and the Fed appear to be at the end of a beautiful friendship, but neither has the strength to admit it.