Find it interesting that we just gave banks 300-500B (student loans) in guaranteed government money then Jay finally lays the hammer down. EU has to be a mess, would be nice to hear from folks over there. Their currency is historically devalued, energy sky rocketing, and living inflation.
The consumer in the US will begin to falter and change spending habits so recession is all but guaranteed w/o Jay. $166 buys a nice steak, 5 scallops, 2 box wines, and a handle of Jack. Hard to believe. Should be like $80-$90 for a nice home dinner.
If Jay’s stated mission is to crush inflation and his only tool is a hammer we’re in for a long haul. 3100 is in the cards. I don’t believe the bulls. The 4800 run was artificially created and there is no clear path up. The Fed just clearly said FU.
Curious to read other perspectives.
China ain’t doing so great either. Read Hong Long exports were down -8% y over y. Don’t quote that but the sentiment is accurate.
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