Sometimes Bad News Is Just Bad News
Markets rallied following Jerome Powell's comments this Wednesday. But this wasn't a case of bad news that the Fed would respond to by easing. In fact, it was just the opposite.
I felt like I couldn’t write this article fast enough yesterday when it appeared the Dow was going to open up over 200 points and Wednesday’s rally would continue.
But, alas, I got sidetracked and had to temporarily settle for a Tweet to timestamp my thoughts.
“Fading yesterday’s rally. At least for now, Powell is posturing like QE is over. While in the …