Today the #FederalReserve again said "higher rates for longer". The market is beginning to believe them. To back up the statement, #JeromePowell upgraded the GDP estimate for this year and next while also stating that inflation will be hard to bring down to the 2% level he wants.
This continues to show us that Good News (strong economy) is Bad News for stocks. It keeps the Dollar strong and yields high.
While stocks will go lower in the near-term, the first weak jobs report will trigger a big stock market relief rally.
That will bring on the next phase of... Bad News is Good News. This will be a short period as markets rally on weak data.
Eventually, weak data with elevated inflation will trigger mass panic, bringing on the final phase...Bad News is Bad News. This will see the markets take out the Oct 2022 lows as #Stagflation takes hold.
The likely outcome is a long recession as the Fed will be somewhat handcuffed from lowering rates and printing excessively.
India's successful lunar mission (landing its Chandrayaan-3 spacecraft on the moon) is another one of many straws in the wind showing its ascendence. As previously shown in my health index for countries, which is used to derive my projections for countries' next 10-year growth rates, India scores on top with a projected growth rate over the next 10 years of about 7%. It has the right mix of ingredients that shows that it has great potential and the right leadership to catalyze it. It reminds me a lot of China in 1984 (when I first went) around the time Deng Xiaoping made his reform and opening up policies that catalyzed China. Congratulations India!
US inflation rises for the first time in 13 months.
Many are working hard to spin it as a positive.
The Federal Reserve has increased rates 11 times to combat inflation, which has destroyed numerous banks, yet they remain far from their inflation target.
Soft landing, right?
- Rare Russia rebuke
- Deflation
- US curbs
@RChoongWilkins has some of the top stories from China you may have missed this week https://t.co/nJmbPQGZvO
The United States Department of Energy recently added #copper to its critical minerals list
"Copper is a national security issue."
- @robert_ivanhoe
China is the top producer for 30 of the 50 minerals that the US Geological Survey categorizes as critical
People are waking up
Breaking news: China’s economy has fallen into deflation as consumer prices contracted for the first time in more than two years https://t.co/3DYIDhytss
Overall, Americans need an average post-tax income of $68,499 to live comfortably in the U.S., according to recent data from SmartAsset.
https://t.co/Zp1c5PgzR1