Hartnett: Why The Panic Cut Jerome?
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Housekeeping: Good morning. Hartnett’s Weekly report is presented 3 ways: 1) Video walk-through with light comments 2) Hartnett’s main points broken out below, 3) and original format at bottom. Enjoy.
Main Flow Show Points:
* Powell cut was to rescue small biz and prevent them from too many layoffs; no other reason makes sense to him. Hence the title.
* Wall Street loves panic cuts when there’s no panic
* Good chance inflation will mutate from Wall street to main street
* Buy Bonds (for recession risk) and…
The skinny
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