The President has the seeds for a really nice run.Home sales robust.Car sales very robust.Americans being - well, American and continuing to buy buy buy all sorts of stuff.A bit of a rate hike will make America's shadow government on Wall Street mad, and a few wannabe 401K toting investors panicked for a week or two.And then guess what.An extra half point doesn't mean the world stops. Not by a long shot. Most of the commerce will keep going and maaaaaaybe at a bit less breakneck speed. Then expedite the infrastructure stuff.It all still may work out. But they are playing with fire right now.
That would be the fed.And Biden goes out of his way to stay in his lane. I think he is convinced that repairing the demarcations between centers of governance in Washington is one of his most important tasks, and I agree.But I also agree that a rate hike is in order.Let’s hope the fed does it.
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