3/23/2023 ‘Great Expectations… or Not????’
AUTHOR:TOWNEWEALTHMANAGEMENT.NET/BLOG 3/14/2023 Towne Wealth Management BLOG:
‘Great Expectations… or Not????’
‘The market falls 500’ after Fed Chairman Powell expressed ‘it is not likely the Fed will cut rates in 2023,’ according to Market Watch 3/22/2023. Apparently, the market was hoping for talk of a decrease, given the previous week’s bank disruption. Further, Powell intimated that the turbulence in the banking system after a regional Silicon Valley Bank collapse, forced the Fed to take a softer position on rates. After rumors of a .5 rate increase dropped to no interest rate increase, the Fed settled for a modest increase of .25.
Although, Powell assured investors that ‘Our banking system is sound and resilient,’ he suggested recent reports on inflation and the labor market means prices will not drop as quickly as expected.
So much for, Great Expectations… or Not!!!
Epilogue:
“It was one of those March days when the sun shines hot and the wind blows cold: when it is summer in the light, and winter in the shade.”
Charles Dickens from Great Expectations
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The opinions expressed in this material do not necessarily reflect the views of LPL Financial and based on the political content of this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted. All indices are unmanaged and may not be invested into directly.
Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
The opinions expressed in this material do not necessarily reflect the views of LPL.