Chief Goon Powell's Conundrum

CGP has painted himself into a corner.

What to do if you are an overpaid, ivory-tower Fed Head? You want to keep raising the fed funds rate in order to benefit your owners but, at the same time, your higher rates are driving your stock market lower. Again, what to do, what to do?

Below you can see El Problemo. When the yield on the 10-year note first got to 3.25% back on October 8, the S&P was near 2900. It immediately crashed. The S&P then bounced after bonds rallied, only to crash again when the 10-year reached back up to 3.20%. Last Thursday, the 10-year hit 3.25% and the S&P has since fallen well over...

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Key Economic Events Week of 11/28

11/28 12:00 ET Goon Bullard
11/28 12:00 ET Goon Williams
11/29 9:00 ET Case-Shiller home prices
11/29 10:00 ET Consumer Confidence
11/30 8:15 ET ADP jobs report
11/30 8:30 ET Q3 GDP 2nd guess
11/30 9:45 ET Chicago PMI
11/30 10:00 ET JOLTS
11/30 1:30 ET Chief Goon Powell
12/1 8:30 ET PCE and Core PCE
12/1 8:30 ET Consumer Inc and Spend
12/1 9:30 ET Goon Bowman
12/1 9:45 ET S&P Manu PMI
12/1 10:00 ET ISM Manu PMI
12/2 8:30 ET BLSBS

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