What is your opinion on Barry C Knapp’s saying there will be a 10-12% correction if there is tapering announce for Oct. 1st?

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S&P 500 rises to another record on Wednesday, Dow jumps 120 points.

Powell is expected to make press on economic policy this Friday 08/27/21 The much anticipated Jackson Hole symposium kicks off on Thursday, where central bankers will potentially provide updates on their plan around tapering monetary stimulus. The Federal Reserve has been purchasing at least $120 billion of bonds per month to curb longer-term interest rates and jumpstart economic growth as the pandemic wreaked havoc on the economy.

I’ve heard the saying that when economists say there will be a correction, it is the time to buy. And when the Government (the Fed) says the economy is in a good space, it is time to sell. This is just all from anecdotal and media. I might be wrong.

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Taper talk is the worry, but if inflation continues to run hot and economic data continues to be mixed the timing of tapering could get pushed,” noted Lindsey Bell, chief investment strategist at Ally Invest. “It’s unlikely that the Fed will force a taper on an economy that isn’t ready, and the outlook is becoming less certain with the rise of the Delta variant.”

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Bell added that the deciding factor could be August’s jobs report due Sept. 3, given that Covid cases have jumped in the past month as the delta variant spreads.

Several tech companies will report earnings on Wednesday after the market closes, including Dow component Salesforce. Box and Snowflake are also on deck.

*Barry C. Knapp is managing partner at Ironsides Macroeconomics *

www.cnbc.com/2021/08/24/stock-market-futures-open-to-close-news.html?__source=androidappshare

h/t iambananalordd

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