forewarned=forearmed : from gains pains and capital
Jerome
Powell is worth over $100 million. He is not using his position as Fed Chair to
launch a later career giving speeches for $250K or signing advisory deals as
former Professors Bernanke and Yellen were.
As a
result of this, Powell actually believes in his role as Fed Chair as it was
originally intended… namely to focus on the ECONOMY, not the stock markets. He
isn’t interested in maintaining the Bernanke/ Yellen created Everything Bubble.
He is interested in getting the Fed back on course by normalizing policy.
With
that in mind, the stock markets will be returning to levels associated with
ECONOMIC realities, rather than their bubbly heights. Economically
sensitive assets such as Lumber and Housing have made it clear where that is:
2,100 on the S&P 500.
