Is the recent market rally “overdone”? Analyst Craig Erlam tells investors what to watch for • The Fed may soon slow its rate hikes. Vice Chair Lael Brainard discusses the central bank’s position with Bloomberg News • Charlie Mungo says crypto is “a bad combo of fraud and delusion.” The vice chair of Berkshire Hathaway speaks frankly about the currency with CNBC.
Recession Watch: Biggest Stock Market Rally In Years Looks ‘Overdone’ Since Fed Has Yet To Beat Inflation — Market analyst Craig Erlam acknowledged investors “have waited a long time” for promising news that inflation may be subsiding. But he cautions the stock market’s reaction to the October inflation report “looks a little extreme—overdone, even,” pointing out the report will need to be backed up by another solid showing next month in order for the Fed to be convinced inflation has slowed. Read more…
Brainard Says Fed Should Probably ‘Soon’ Slow Pace of Rate Hikes — Federal Reserve Vice Chair Lael Brainard said Monday that investors can anticipate a change in pace. With markets expecting a likely step down in December, Brainard confirmed that a slowdown if not a stop is looming. Read more…
Charlie Munger Says Crypto Is “A Bad Combo Of Fraud And Delusion — “This is a very, very bad thing. The country did not need a currency that was good for kidnappers,” Munger said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Tuesday. He continued, “There are people who think they’ve got to be on every deal that’s hot. I think that’s totally crazy.” Read more…
John R. Day, Bill Ennis, and Matt Heller