Tuesday Oct 5, 2021
Fed Chair Powell says inflation is transitory, crude oil did not get the e mail.
WTIC rose to over $79 today and Brent is higher.
The new low in the SPX is setting up a move lower over the next two months. Notice the index backed off the last hour. Yes we had a big rally today but lookin at the chart, not so much, it just relieved the oversold condition.
As I write Larry Kudlow has Art Laffer on criticizing the Dem spending bills. He did observe that price controls over Federal salaries might be a great idea.
The nomination for the new Comptroller is a graduate of Moscow University who hates banks.
Janet Yellen I understand opposed this nomination but now backs it. I predicted Yellen would regret taking the Treasury job and that will yet come true.
TBF should make a new high over the next couple of weeks.
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