Dear Ben, it’s me again, just wanted to check in before your testimony today on the economy in front of Congress. The economy is recovering. You see the ISM data lately, the bounce in retail sales, the earnings releases from CSX, INTC and JPM, the JoC index of industrial material prices that is just 8.5% from an all time record high, and the S&P 500 which is back to 1200, up 80% from its low in March ’09. Why do you still have rates at zero? Is it because you’re worried that the banking system is still clogged with bad debt, you’re still concerned about housing and fear higher mortgage rates, the US consumer still is worried (ABC poll last night fell 4 pts to 5 week low), job growth is still punk, small businesses still see economic headwinds, capacity utilization is well below average and core CPI is still low, 2 data points you love to watch? Tell us today. Rates too low for too long caused the bubble, do we still need free money?
This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers Please see disclosures here: https://ritholtzwealth.com/blog-disclosures/
Previous PostTBTF Banks Pose “Unique Concentrated Risks” to FDIC
Next PostGrading the Treasury