The Fed’s “Emperor Has No Clothes” Moment
There’s a popular saying among investors: “Don’t fight the Fed.”
That means when the Federal Reserve keeps interest rates low in order to boost the economy, it’s time to be bullish and make aggressive investments.
But on Wednesday, Fed Chairman Jerome Powell had an “emperor has no clothes” moment that you should be concerned about.
In today’s Market Insights video, my colleague Michael Carr and I discuss how the Fed’s role has changed in today’s economy.
Editor, Automatic Fortunes
My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.