Are Banks Getting a Bit Greedy?

Nasdaq has suddenly plunged 3.4% even though inflation slowed down for the second consecutive month, with banks and their analysts selling this as terrible news in any event because it did not fall to the 8.1% they initially expected.

“This idea that we’re going to get to a soft landing gets less and less likely if the Fed needs to do more work in order to curtail the inflationary pressures,” said Matt Forester, chief investment officer of Lockwood Advisors at BNY Mellon Pershing.