After a year of projecting confidence in America’s “strong” and “resilient” economy, at his recent Jackson Hole appearance, Federal Reserve Chair Jerome Powell suddenly changed his tune. He expressed concern about the deteriorating labor market, saying the situation may warrant a resumption of monetary easing notwithstanding the potential inflationary risks of tariffs. This comes at a time when stocks are at nosebleed valuations levels, with the general public more exposed to them than at any time since the 2000 and 2007 bubble peaks. Are investors sleepwalking into an oncoming painful market correction here? To find out, we have the good fortune to welcome Danielle Park back to the program.
Here is a direct video link.
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Cory’s Chart Corner
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Wildly asymmetric and unsustainable.
BREAKING: The wealthiest 1% of US earners now own 50.1% of US equity and mutual fund holdings.
To put this into perspective, their ownership stood at 40.1% in 1990 and 39.6% in 2001.
At the same time, the next 9% wealthiest households own 37.3%, and the middle 40% own just
