The S&P 500 is tied for its 2nd best performance since 1990. Only 1991’s January/February trading action has been better.
Over the past 115 years, many monetary experiments have been implemented by the FED’s officials, but, to me, one quote says it all: “Permit me to issue and control the money of a nation, and I care not who makes its laws!”
The FED is utterly confused right now. Less than 4 months ago, Chairman Powell told the world that America’s economy could withstand much higher interest rates, but the markets had other ideas.
This is the closest we’ve come to a pivotal moment for the global economy since 2009. Today is the pinnacle of the economic experiment, led by the Federal Reserve and followed by all central banks, globally.
In life, as with investing, cause and effect aren’t instantaneous, but inevitable. The currency crisis doesn’t have to happen today, but it is, nonetheless, imminent.