What did Chairman Powell tell 60 Minutes last night? Basically, there’s no rush to cut interest rates at this time but they’re not going to wait to achieve 2% inflation target before cutting.
While the cap-weighted S&P 500 is at a new high, the same cannot (yet) be said for the equal-weighted index, nor small caps. But history shows that eventually the soldiers will lead the generals, sometimes quickly and sometimes slowly.
