Posted on 08/22/2022 12:49:25 PM PDT by John W
Wall Street tumbled on Monday as investors fretted about a U.S. Federal Reserve gathering later this week in Jackson Hole, Wyoming, that is expected to reinforce a strong commitment by the central bank to stamp out inflation.
After a summer rally on Wall Street ended last week, the S&P 500 remains down about 13% so far in 2022. The CBOE Volatility index, Wall Street’s fear gauge, rose to 23.8, its highest in over two weeks.
Focus is on Fed Chair Jerome Powell’s speech on Friday at the central banking conference in Jackson Hole for further cues on how aggressively the Fed is likely to be with future interest rate hikes.
“Powell is going to try to sound hawkish to tamp down inflationary expectations and tighten financial conditions. So that’s most likely going to be a negative catalyst for the market,” warned Jay Hatfield, chief investment officer at Infrastructure Capital Management in New York.
The Fed will probably raise interest rates by 50 basis points in September, according to economists polled by Reuters.
(Excerpt) Read more at stocks.apple.com ...
They have to, things aren't as bright as Brandon's handlers want you to believe.
There goes the housing market.
33,094.09
▼ 612.65 (1.82%) today
August 22, 3:52 PM EDT · Market Open
Nice time for my car to croak.
I though it very odd when there was general glee over the ‘1 month of zero inflation increase’. Inflation is still officially at 8.52% and the drop is mostly a knock-on effect of the oil price easing, which looks to be temporary, or should I say transitory? Heh.
We are still millions of lost jobs away from the 2% inflation target.
with zero inflation?
thats crazy talk
“U.S. Federal Reserve gathering later this week in Jackson Hole, Wyoming.”
Hmmm, Lizzie’s “hometown,” the beating heart of Wyoming.
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index “dropped 6 points in August to 49” for its eighth consecutive monthly decline. Anything below a 50 is considered negative. NAHB Chief Economist Robert Dietz said in a statement obtained by CNBC that “‘[t]ighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession.’”
Source: NewsBusters
Nothing more inconvenient than having to interrupt a bunch of Wall Street bankers from their summer vacations to have to meet up in Jackson Hole to raise the interest rates on the masses. Nice work if you can get it though.
No fool here, I went with the fixed rate option.
where were the “fears” for the past month or 2?...... it’s a rigged deal folks
If I was Fed chairman, that first rate increase would have been 200 basis points, instead of 75. That would have sent a much clearer signature by the Fed, that it was seriously about fighting inflation.
the job losses are already mounting but MSM not covering it.
I lost a chunk of money from a stock I stupidly bout at the peak. Everyone (two family certified planners) told me everything was going to be great, despite my strong gut feeling. I bit at the top of the market. I sold half of my holding right at the top of the recent bear (trap) rise. I feel good about that, but I am still in the hole with my remaining stock holding.
I am not feeling very good at all about the market and have taken a total Michael Burry view. Iam almost completely out of stocks at this moment.
You can't time the market.
Anyone seen an increase in interest rates paid on passbook or Money Market accounts?
Anyone?
Anyone?
Bueller?
This Fed remains passive, kneeling before the alter of politics.
A responsible Fed would raise rates 1 full point every meeting until the rate is at lease 10%.
And would notify the world that is the plan, in advance.
Paul Volcker got it right.
Completely agree. You can’t time the market, but I dunno, boss. This market has me really spooked as in a precipitous drop. I am just not seeing the near-term fundamentals as being sound. Possibly in 2024, but a lot of lows or sideways until then.
We've already had a big drop, now it will go sideways for years. There are stocks that do well in stagflationary periods.
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