Stocks are popping–but interest rates remain firm as it is becoming somewhat more apparent that not all Fed officials agree with the continual fast rate of interest rate hikes.
Charles Evan (Chicago Fed), for one, believes that a ‘pause and observe’ period should be considered before too long–he is concerned with too far, too fast.
The question is–where is the data? While anecdotally the economy is weakening and the number of ‘smart people’ crying out for a pause is deafening I am not seeing the super weak stats that all imply are out there. Durable goods were released today and were off .2%–hardly a crashing economic stat–this followed minus .1% last month.
We’ll see – no one knows for sure what will happen.