Week of August 29, 2022
Price stability is essential for a modern economy. One need only consider Germany’s Weimar Republic in 1923 and the destructive nature of that hyperinflation. Fed Chair Jay Powell was resolute in suggesting last week that the central bankers would be vigilant in taming inflation. This is a long-term strategic benefit to capital markets. Equity price volatility is likely through the elections. No changes in our signals this week.
Bob Bilkie, CFA