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Richard's Remarks

We received new record highs yesterday on the Dow and the S&P. I guess we can call today a “settling in day,” with the Dow down 29 points as I write and Transports down 19. The S&P and NASDAQ are also down a bit. Gold, having rallied just above 1200, is now digesting its gains. The Fed is probably in a quandary regarding what they should do about interest rates.


Based on the lukewarm reports about the US economy, I would think that the Fed would be deliberating long and hard about whether to raise rates. The Fed has now bought up over $3 trillion in Treasuries and mortgage-backed securities; this has helped the banks but has contributed little to the man on the streets. How the Fed is going to unload its giant hoard of securities is a puzzle that lays on everyone's minds.


With central banks around the world trying to devalue their currencies, ... Log in or subscribe to continue reading.

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