Moments ago the Fed released its July Monetary Policy Report which forms the basis of Janet Yellen's testimony to Congress next week, and while it does not traditionally discuss monetary policy it does provide a snapshot of the Fed's take of the economy and capital markets at any given moment. Here are some of the highlights courtesy of BBG:
Authored by Charles Hugh Smith via OfTwoMinds blog,
The solution is a new decentralized way of living that bypasses the chokepoints of centralized political and financial power.
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
In the months since President Trump was elected consumer and business confidence have soared, and the stock markets have, too. Many are betting that much-needed supply-side tax reforms and deregulation would be rabbits that Trump would pull out of his hat. But, economic growth remains tepid, and political storm clouds are gathering in Washington, D.C.
Another month, another increase in minimum wage jobs such as healthcare and education, which is hardly a surprise but this time an unexpected source of hiring emerged: the government.
Bonds and Bullion are down.. but following the better than expected payrolls print, stocks and the dollar (JPY and EUR weakness) are jumping higher as markets celebrate The Fed's ability to tighten financial conditions further (and ignore The Fed's fears over bubbles)...
Stocks are up...
The Dollar Index dipped on the report then ripped back higher...
But Bonds are extending their losses...
And Gold is getting hit...
As a reminder...