ARKK - QQQ: Powell Sends The Market Flying But Is The Fed Falling Further Behind The Curve?
- Today's Fed meeting was decidedly dovish compared with expectations.
- After Jerome Powell took a 75 basis point hike off the table, investors rushed into TIPS, gold, the Nasdaq, and ARKK.
- Cash rates are far too low, but they might catch up if the Fed gets hit with another hot CPI number.
- While the Fed had done a good job of catching up, they're being too soft here, echoing the mistakes of the disastrous 1970s Federal Reserve.
- I think long-term investors have an opportunity to de-risk from tech while there's still plenty of optimism that the Fed can achieve a soft landing, while those looking to put new money to work should be cautious.
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QQQ: Powell Sends The Market Flying, But Is The Fed Falling Further Behind The Curve?