by Chris Black
Where’s muh Midterms Rally? Where’s muh FED Pivot?
JEROME POWEL JUST RUGGED THE MARKET | JEROME POWELL JACKSON HOLE FULL SPEECH RECAP #jeromepowell #FederalReserve t.co/L1guc293ck via @YouTube
— the BERG (@ADAMBERGMANshow) August 26, 2022
What’s going on here?
They are simply trying to time the break.
The USD is toast when the petro dollar breaks.
And that has been the plan.
Brainard told banks to be ready for FEDNOW instant payment system May/ June 23.
And Saudi Arabia has declared desire/intent to join BRICS at the July 23 conference.
Keep an eye on the COP27 taking place next week.
Some of the major banks are squirming over their GFANZ requirements.
How that gets resolved? Will shed better light on the timeline.
It would be wonderful if Wall Street and Main Street would watch what they do rather than Powell’s periodic bloviating.
The central banks don’t give a damn about the success of your economy or markets. It’s an intentional takedown.
The coming escalations in WW3 will drive swings but they have no intentions of long term business as usual.