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There was no reason for the 50 basis point reduction.

Although, the job data downward revision will come in right after.....................................you guessed it, the election!
 

In addition to Harris' new tax proposals for small businesses, she also laid out her plan this week for taxing capital gains. She wants to increase it to 33%, whereas Biden reportedly wants the current rate, which is at 23.8%, to be nearly doubled, according to The Wall Street Journal.

29 days or so until some decisions will be made in non-qualified accounts!
 
Excellent read.


There are big soft spots in the economy, particularly manufacturing and housing, which are both in recession. Consumer spending, aided by big government stimulus, is holding up the economy, but the Fed's stated reason for their mega rate cut was supposedly a collapsing jobs market and a sure bet that the inflation rate would hit their target.

Inflation is stickier, the Fed has not hit its 2% target, and the labor market is holding up very well — for whatever reason. So, Mr. Powell, in all of his wisdom, has done what the Fed is not supposed to do: interfering with the election, trying to give the Kamala economy some last-minute juice. Literally, just before Election Day. In the world of monetary politics, Jay Powell has just dragged the central bank to a new low. That's the riff.
 
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