Totally agree. Retailers won't just have excess inventory to deal with... all this talk of recession has consumers trying to save (just in case they lose their jobs) so Target, WalMart, etc might all have to out-discount each other to entice people with too-good-to-pass-up deals... while people are just trying to afford to eat and drive to work.
But... is the Fed going to be smart enough to hold off raising rates in July... the market doesn't think so...
No chance of that. We are going to see them raise without a second thought.
The latest PCE numbers give them the cover they need.
To me, the question is Sept. I give them a 50/50 chance at a raise then. Even if they do, I see then turning real dovish by the end of the year.
Posted Using LeoFinance Beta