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2018-12-20

Dow down 734 points intraday

The Dow Jones Industrial Average  ended with a decline of 352 points after being up by as much as 382 points before the FOMC’s announcement.

https://www.marketwatch.com/story/powell-party-pooper-here-are-the-worst-performing-stocks-after-the-fed-wrecks-the-market-2018-12-19


It's The Balance Sheet, Stupid!

It's not about a piddling 50 basis points on the Federal funds rate next year
To the contrary, the clear and present danger to the greatest financial bubble in modern history is the fact that Powell affirmed without hesitation that the Fed will proceed---on automatic pilot no less---to drain that other Swamp via QT or balance sheet run-off.

David Stockman

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