Payne's Perspective: June 24, 2019: Big Steve Edition
By Charles Payne, CEO & Principal Analyst
Last week, the market took its cue from the Federal Reserve, which continues to evolve in its policy approach. I’m thrilled this Fed learned from its disastrous by-the-book actions last year that mitigated fiscal growth efforts and the best year of corporate profits ever. Others continue to report the Fed contemplating rate cuts, which means the monetary policy-setting body sees economic peril. I continue to read that the Powell Fed is now committed to not sparking economic peril. It took a good night’s sleep and some pondering, but the market erupted higher after the Federal Open Market Committee (FOMC) and the Powell press conference.
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