What Really is the Fed's Job...and What Really is the "Fed put"?

BTW, Powell has Done an Excellent Job So Far

We will be on vacation for a week starting next weekend. Therefore, next weekend’s edition will be published this Friday (by noontime). There will be no edition the following weekend. Thank you very much.

Table of Contents:

1) Jerome Powell has done an excellent job as Fed Chair so far.

2) Most people misinterpret what the Fed’s job is…and how they have implemented things over the years.

3) There are still plenty of reasons to think that the stock market will continue to rally.

4) Commodities are sending signals that inflation is indeed on the rise.

5) Index charts….Still overbought, so due for a “breather.”

6) Global bond yields keep rising. Will this become a problem?

7) The amount of froth in the market is starting to get ridiculous.

8) You cannot go a week without looking at a few tech charts.

9) Potpourri…..The S&P 500 Equal Weight index is sending up a warning signal.

10) Economy….”The Fed will Now Wait Until the Fourth Quarter”

11) Summary of our current stance.