FOMC meeting Wednesday.
FED speakers already prepping the masses.
How low will the market go?
FED'S POWELL: WE ARE ON TRACK TO BEGIN OUR TAPER
— FXHedge (@Fxhedgers) October 22, 2021
Next week: Fed announces taper with the caveat that it can and will stop it at any time when it deems appropriate (i.e. the market sells off).
— Sven Henrich (@NorthmanTrader) October 26, 2021
BILL ACKMAN SAYS WE THINK THE FED SHOULD TAPER IMMEDIATELY AND BEGIN RAISING RATES AS SOON AS POSSIBLE
— *Walter Bloomberg (@DeItaone) October 29, 2021
Consumers are either running out of money, having no products to buy, or are just getting sick of higher prices.
Either way, consumer spending dropped dramatically in the third quarter, with the growth rate falling short of expectations by almost 30 percent.
h/t Doorbert Returns
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