Submitted by agilmore1080 t3_yfqooz in wallstreetbets
agilmore1080 OP t1_iu4rojh wrote
Reply to comment by NotoriousJDO in This current rally is WHOLLY dependent on a single man's speech next Wednesday by agilmore1080
But how much better are they actually looking? This is from a Reuter's article, "U.S. Treasury yields rose on Friday after data showed underlying inflation pressures remain elevated and suggested the Federal Reserve will keep its aggressive interest rate hiking campaign. The personal consumption expenditures price index rose 6.2% in the 12 months through September to match the prior month's rise. The core PCE price index, which excludes food and energy, advanced 5.1% annually after increasing 4.9% in August."
If the Fed signals a pivot next week there is going to be a blow the roof off rally which will completely undercut what they are trying to do. I'm starting to believe anything is possible but if that's what they do then they truly are completely incompetent and Biden should fire Powell's ass right after the mid-terms.
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