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The markets will respond, however they want to, to whatever data is presented to them.
But the Federal Reserve is not pulling the strings of the broader stock market in some kind of Machiavellian fashion. They’re barely pulling the strings they’re supposed to pull.
Which brings me back to the podcast.
I listened to a new podcast last night called The Market Huddle — it was actually recommended to me by Chris Pulver.
An economist named Dario Perkins was on, and he had a very interesting take on the Federal Reserve.
I’ll admit — a lot of it was over my head! But, basically, he argued that over the next few months, if we do indeed manage a “soft landing,” the Central Banks are going to take credit when they really shouldn’t.
They’re going to say that it was all because of their perfect timing; spiking interest rates at exactly the right time, and releasing the pressure just when the economy needed it.
But the truth is, there are fundamental economic changes that allowed for the “soft landing,” NOT tighter or more lax monetary policy.
You can look up Perkins’ work to see more about what he had to say.
But I did find this tweet particularly enlightening…
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