$DIA, $SPY, $QQQ, $RUTX, $VXX
The Federal Reserve is “strangling growth” in the US with its “very tight monetary policy,” according to President Trump’s economic adviser Stephen Moore.
“Incidentally, this is the other reason why I think we have seen a slight slowdown in the growth of the economy, is because the Fed is strangling growth with a tightening of the money supply,” Mr. Moore said Sunday.
“. . . The Fed needs to cut rates. They need to cut rates by 25 to 50 basis points at their next meeting in a few weeks in July, because, I think, the economy is being hurt by a very tight monetary policy. It’s been negative for commerce, manufacturers, and others as well.”
Mr. Moore said that “the Dollar is as strong as it’s ever been.”
“Everybody wants to buy dollars,” Mr. Moore said. “The Fed is not accommodating that, and has created a tight situation for money that, I think, is choking off growth.”
Mr. Moore praised President Trump’s nomination of Judy Shelton to the Fed, calling her “a breath of fresh air” for the board.
“I am so pleased about Judy Shelton,” Moore said. “She is going to be the new member of the Federal Reserve Board . . . Judy Shelton . . . understands money. She understands growth. She understands jobs. She understands interest rates. She’s one of the world’s experts on monetary policy.
“She thinks like the President does that the Fed has been way too tight.”
Monday, the major US stock market indexes finished at: DJIA-115.89 at 26806.23, NAS Comp -63.41 at 8098.38, S&P 500 -14.46 at 2975.95
Volume: Trade on the NYSE came in at 737-M/shares exchanged.
- NAS Comp +22.1% YTD
- S&P 500 +18.7% YTD
- Russell 2000 +15.8% YTD
- DJIA +14.9% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish, with Key indicators flashing Green
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