Poker, maybe all the idiots who were buying like crazy after the last two Fed rate cuts are now beginning to understand that irresponsible monetary policy is a two-edged sword. A rate cut leads directly to a weaker dollar, which in turn makes oil and every other world-priced commodity more expensive, which in turn drives up the price of imports *and* the cost of domestic production, which by anyone but the Fed's definition, is inflationary.
Kind regards, -CAPT J
"What would you attempt to do if you knew you could not fail?"
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