Posted on 09/09/2016 11:04:48 AM PDT by mandaladon
U.S. equities traded lower on Friday as concerns the Federal Reserve might raise interest rates this month loomed following a speech made by a Fed official, while eyeing falling oil prices.
"The commentary from a voting member that the Fed may be forced to raise rates is important," said Kim Forrest, senior equity analyst at Fort Pitt Capital. "I think the market needs to understand that there may be a rate hike coming. Whether it's September or December, it doesn't matter big picture."
The Dow Jones industrial average fell more than 300 points lower, with 3M and Boeing contributing the most losses.
"I think this is a good opportunity to take a hard look at your portfolio and maybe preposition as the market trends a bit lower," said Rob Bartenstein, CEO of Kestra Private Wealth Services. "This part of the year historically has 20-to-25 percent more volatility than any other time of the year." He added, however, he thinks stocks should finish the year on a high note.
The S&P 500 fell 1.7 percent, with utilities and telecommunications shedding more than 2.5 percent.
(Excerpt) Read more at cnbc.com ...
Stocks sell off, all 3 major indexes post worst day since June 24; Fed fears loom
http://www.cnbc.com/2016/09/09/us-markets.html
Does this help Hillary?
It’s to distract from Hillary
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...but the FED is doing what it is supposed to be doing.
The FED’s focus by the law that created it, is supposed to be 1) Full Employment, 2) Low inflation, 3) low Interest rates....
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You left out one word\phrase between ‘the’ and ‘law’:
Illegal\Unconstitutional.
IOW, ‘The Fed’ shouldn’t exist in this here Union of the States, under our CONSTITUTIONAL Republic
Yellen needs to ‘pit or get off the shot’..
The last thing we need is uncertainty in financial policy and the fears of a worsening effect regardless the action, if delayed or otherwise.
It seems to be the gubamint’s biggest commodity it trades in of late, instead of confidence and security.
“The FED, the Treasury and the Congress are now hostage to what has been a massive deficit spending binge making currency worth not much.”
An astute commentary, Mouton.
Looks like Soros, Buffet, and Zuckerburg need to do some propping up of the market to help Hillary. I wish all the worse for their investments when they do.
“We are in the worst economic depression in our country’s history, entirely due to government economic policies.”
Yup. If it weren’t for EBT cards, the Bread Lines would 4x longer than in the 1930’s.
Today, what’s not on the TV’s six o’clock news, isn’t happening.
"The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.'
The truth is that years ago we passed the point where a bachelor degree is worth less in the job market than a high school diploma was worth in the sixties. We are headed toward the point where a masters degree will be worth less than an eighth grade education was worth in the forties. Anyone who thinks it can’t happen is dreaming.
Many college students learn very little employable skills. If someone wants to study arts or music or Humanities - fine! There’s value in beauty and self- development. Lots of it. I’m a big fan. But these, and many far far far far less enlightening majors at some schools nowadays, don’t even prepare graduates to clean dishes at Denny’s. This is so obvious that it’s absurd for a BA or MA in — say — ethnic studies or even something beautiful like French painting ____ or history or sociology or you name it — it’s absurd for such graduates to complain they can find much work. Of course they can’t! Add to this how our govt lets American engineering science and computer companies hire thousands and thousands of foreigners. The overall job situation for many graduates is dismal. But a student going to college to get employable skills still should take degrees in fields which the economy makes use of -— this much is clear.
What part of the Constitution do you believe is being violated?
Private banks were issuing their own money prior to 1913. They even printed their own currency. This was called ‘bank money’ or ‘credit money’ during the gold standard era to differentiate it from money backed by gold. JP Morgan, America’s largest banker, used to perform most of the functions of the Fed without any government oversight. He was a driving force behind the creation of the Fed because by 1907 the US banking system had grown too large for a private banker to backstop during a crisis.
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What part of the Constitution do you believe is being violated?
Private banks were issuing their own money prior to 1913. They even printed their own currency. This was called ‘bank money’ or ‘credit money’ during the gold standard era to differentiate it from money backed by gold. JP Morgan, America’s largest banker, used to perform most of the functions of the Fed without any government oversight. He was a driving force behind the creation of the Fed because by 1907 the US banking system had grown too large for a private banker to backstop during a crisis.
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You mean, what part(s) ISN’T\AREN’T??
Is banking/finance one of those areas where their limited Congressional power, given over to a 3rd-party\bureaucracy (usually with an expansion of said power(s)), somehow still retains Constitutional muster?
Your contending that a NON-Fed. entity is\was somehow BETTER able to handle functions of Fed. govt instead...so, what’s the big whoop??
Borrow $$, mint actual $$, define the weights\measures thereof?? Just what *ARE* those ‘other functions’ better handled that the Fed. Govt (Putting aside, for now, the idea that Congress HAS the ability to hand over said functions).
I totally agree but I would add that even worse is the fact that recent graduates that I have spoken to who majored in History for instance, literally could NOT pass my eighth grade history final. I know this from talking to them. Sure they picked the wrong major but they don’t even know squat about the major they DID study. Much of what they THINK they know is wrong. People used to tell me that the only thing a history major was good for was teaching history but apparently it is now useless even for that. They may get a job teaching history in high school but they can’t actually teach what they haven’t learned.
Agreed - it’s amazing how poorly many colleges “teach” - with many graduates knowing almost nothing or “knowing” false things - or just a smattering of useless stuff.
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