Savvy Trades and Investments

[Mermelstein]

Volker was raising rates at a time when the debt was low and deficits were also low.

Now that we’re at $30T in debt, that ship has sailed.

The market is calling Powell’s bluff in trying to “talk” down inflation by appearing hawkish. The market knows he can’t raise rates much higher.

Wouldn’t be shocked if we make new highs before the end of the year, as people finally come to grips that cash is trash and you might as well own stakes in companies.