Payne's Perspective: October 10, 2022: Looking for a Fulcrum
Was the market up or down last week?
You would be forgiven if you assumed the market was lower after three straight ugly sessions, but the market was higher last week after bolting out of the gate with vigor and gusto on Monday and Tuesday. Still, there was a legitimate sense of disappointment and vulnerability heading into the weekend.
The market is moving on one thing this year, and it’s the Fed’s guessing game.
Members of the Federal Open Market Committee (FOMC) are out there every day deliberately slamming the market, as they remain committed to crushing inflation no matter the consequences. Sure, there are historical relationships between the market and interest rates. But don’t spend too much time trying to learn them because historical relationships with the market and recessions is what this market has been adjusting to.
The market is also afraid that the Federal Reserve will go too far and create a deep recession.
To read the full report contact your account executive or email Research@wstreet.com.
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