Okay, that’s over with. Now we enter the slow, but sometimes rocky, end of summer month.
And speaking of month endings, let’s remember bulls wanted a good end-of-month rally to put some lipstick on what was a volatile and tough month of July.
What’s the takeaway from today’s Fed meeting? They insist job growth in “solid”. That means they’ve tossed those millions not in the labor force as no longer worth mentioning. Further, the quality of new jobs is mostly in low paying service and part time employment. Next the Fed moves to inflation which is below their 2% target. They state oil prices have “stabilized” which seems amusing frankly and further state long term inflation has remained “stable” (Let’s call it what it really