While everyone and their mother was waiting for Nvidia’s quarterly earnings, the Fed Open Markets Committee meeting minutes hit the street.
Oooh boy…
The report wasn’t good at all. Seems plenty of folks at the central bank are feeling really hawkish. Forget about that weak “higher for longer” song ‘n dance we usually get…
…because some of these Fedheads are saying they’re willing to raise rates again.
So immediately the S&P 500 dropped 8%, trading was halted, the oceans boiled… dogs and cats living together…
Oh, wait - no. That didn’t actually happen. Nothing much happened, in fact. A small sell-off… and a rally right back.
Now, I don’t necessarily believe the Fed is going to raise rates - the really “yikes!” thing is that the market cares more about… AI… than it does about the central bank.
And while we’re used to hearing “higher for longer,” people have forgotten (or are ignoring) that that can do significant damage to the economy.
The doctors say I shouldn’t bang my head against the wall anymore, so, instead, I made this video to show you why the market is complacent at best, and in deep, deep denial at worst.
Here’s what you should do about it…
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