When I listened to Powells FOMC speech live, and then his open forum the following day...everytime everyone asked if we are moving too quick, he was so stearn to respond "The fed see's no headwind in current economy, economy is doing fine, and inflation will normalize to 2.5 to 3 by the next four years." He had this chart where a bunch of committee voters projected this figure. I think he mentioned a possible .5 uptick in GDP this year but I could be wrong.
As a seasoned sailer, tracking the wind, the seas and the rig I'm in...I feel like a bunch of idiots just jumped off the boat when the ship heeled too much...some were wearing life vests, some were not and will drown at sea...but we should come back with solid earnings.
He mentioned P/E was reflective of the Tax Changes whatever that means. I personally feel P/E was a bit high and we might not totally recover in the next year. We knew it would be rocky...so hang on, and put that life vest on...the seas are comin.
PLUS didn't the browns win a football game, that right there is a sign the sky IS falling LMAO! KIDDING! (Sorry clevelanites? and fans).