Well, fortunately for my 401k stocks are up about 1.4% today, apparently “in hopes of rate cut”…
I’d much rather it be on strong company earnings, a decrease in CPI/inflation, or even strong sales, but up 1.4% on hopes that the FED will lower rates? That’s a huge increase based mostly on the glass being half full. Didn’t lowering rates arguably get us into this mess? Don’t we need to encourage people to save money so they can one day actually afford a home, not spend more?
Has irrational exuberance been replaced by irrational optimism?
