Sorry, Mr. Powell. No can do. There is no way to prop up stocks if interest rates continue to rise as rapidly as they have. And, there is no way to prevent interest rates from rising rapidly unless you are willing to put a lid on inflation.
And, there is no way to put a lid on inflation (at least in the short run) unless you’re willing to crash oil/gas prices over the next six weeks. And, sorry, but we all know what that would do to stock prices. Just the thought of it has done plenty.
The guys behind the curtain have prevented a breakdown so far, but the short-term indicators have slowly turned negative over the past couple of weeks. What’s it going to be, Mr. Powell? Pick your poison.
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