Week of August 22, 2022
No changes in our Signals this week. Meme stock speculators, cryptocurrency advocates, and supersonic airplane manufacturers alike are learning that it is quite costly to bet on a vessel that has no “engine”. Despite market expectations of a dovish Fed, Chairman Jerome Powell will not want to waffle and let inflation stick around. The ghost of Paul Volcker is still fresh in Powell’s mind.
Michael Mullenax