Payne's Perspective: July 15, 2019: Earnings Season
I think the Federal Reserve is in the rearview mirror, and now investors can focus on fundamentals. With that in mind, the best time of the year to gauge the true underlying strength, potential, and management’s ability to execute is the four times in the year when financial results are released. Before I get to the upcoming earnings season, I want to write up what the Fed is up to because it’s still being misreported and misunderstood.
Federal Reserve: Epilogue
Jerome ‘Jay’ Powell spent two days on Capitol Hill and spoke more about cryptocurrencies, and whether President Trump can fire him than using the actual policy or intentions. But when he did, most observers ignored his message when Powell mentioned Japan allowed rates to linger under 2% too long, and that it nullified some efforts and mitigated others by the Bank of Japan.
The Fed can’t keep waiting for inflation to rear its beautiful head. They must make it happen sooner rather than later. That sentiment was echoed by Chicago Fed’s President Charles Evans on Friday when he said there should be two rate cuts to get the job done. That job is to get inflation over 2% “because we’ve run under far too long.”
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