The American economy has split in two: how averages of wealth and debt obscure the profound risks.
If history is the guide, you’re on your own.
Those who lost out on the Fed’s “wealth effect.”
The Fed caused it, but it won’t do much to contain it.
Bondholders, savers, consumers to be put through inflation wringer.
The Fed is way behind the curve, but at least it now sees the curve.
“Many fear the Fed is behind the curve. The market is even further behind: This is clearly a dangerous situation.”
Where has all the optimism gone?
This market (“Dow 30,000”) assures Fed rate hikes.
For the first time in the US since the Financial Crisis.