Behold, The Powell Pivot Goes Circular!

Yup, stock markets were shocked and appalled by two dissenting votes, the lack of even a single vote for a 50-basis point cut, the total absence of indications of more cuts, and the sudden re-emergence of the suggestion, even as an aside, of a “couple of rate hikes.”  The Dow fell 333 points, the S&P 500 33 points, and the Nasdaq nearly 100 points – all down between 1.1% and 1.2%.







David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.