Michael Arone, State Street Advisors chief investment strategist said the first seven months of the year were more certain for investors in terms of their expectations for Fed rate cuts and a possible trade deal. But the trade tensions have worsened, and the trade war could escalate even further.Friday morning, but while he left the door open for rate cuts, he did not explicitly promise rate cuts.
"I think the Fed is in uncharted territory, and I continue to have empathy for Chairman Powell. I think markets want faster and more aggressive policy. He's dealing with challenges the Fed has never had," said Arone. "The data will give us some indications on business spending. Durable goods has capital expenditure orders. It looks look consumer confidence will come out [Tuesday] as well," Arone said. Business spending has been taking a hit from the trade wars, and economists are concerned it will continue to weaken, ultimately leading to weakness in the consumer economy.
Wow, not a difficult prediction. Could be? No, it will be. He has resorted to burning down the house since he is unable to accomplish anything else. So much for August low volatility streak, eh? Everything he touches turns to shit. Nevermore