March 21, 2000 All Over Again

Ooops! And we are not referring to today’s scorching reversal of Wednesday’s knee jerk response to Powell’s post-meeting chicken-hawk schtick. No, the ooops lies in Wednesday’s 3.0% gain in the S&P 500 itself. That occurred on a day the Fed hiked interest rates by 50 basis points—a combination that has happened only one other time […]
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