Payne's Perspective: July 25, 2022: Powell's Tough Guy Act
The week ended in a whimper, but it was a good week and continues to be a great month, although very few think it’s more than a bear market bounce.
There were decisive moves that speak to the direction of the economy and market conditions, which have been pricing in a slowing economy for months.
The upcoming week will speak to the economy, and more importantly, the role of the Fed, which has proclaimed its hawkishness. However, it would probably pivot if there were enough signs that the economy was going to fall off a cliff.
Sadly, for too many people, it already has.
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