has faded. But it's been swapped with a different bullish sentiment, one we all know very well: the strength of a hot economy, which has helped power the market all year — until that cut., hot retail sales, and calmer weekly jobless claims), the strength has done nothing if not buoy the market. It has done just fine under the past few years of high interest rates and endless no-landing comments.
Reconciling these two things — another potentially reaccelerating economy and a rate cut the market is almost certain of — sounds tough. But it's not when you remember how high rates still are, as we wrote earlier this week in Chart of the Day. As Minneapolis Fed president Neel KashkariJason Furman, the former Council of Economic Advisers Chairman under President Barack Obama, told Yahoo Finance that he sees inflation as a bigger problem than recession right now.
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