Federal Reserve Chair Jerome Powell and other members of the rate-setting Federal Open Market Committee (FOMC) have signaled they will be cutting the benchmark federal funds rate at the end of this month. This will be their first interest rate cut since December 2008.
As the second quarter came roaring to a close, stocks marched consistently higher while bond yields moved drastically lower. Those trends continued the first week of July, but it is doubtful that they can continue in unison much longer. Either the economy stabilizes and rates stop falling, or the stock market will inevitably take a break from this rise higher.
The Roman poet Marcus Manilius, proposed author of Astronomica,the earliest work describing astrology, characterized the sign Libra as “the sign in which the seasons are balanced.” Last week, Facebook announced that Libra is now the moniker for its new blockchain-based payment system.
Veruca Salt was a character in the novel and film Charlie and the Chocolate Factory. Her character was the greediest, most spoiled child of all the children that received a “Golden Ticket” and had the opportunity to tour the Wonka Chocolate Factory