To The Moon

The fixation on interest-rate projections this week obscures a bigger shift inside the Fed in the past year, with bigger implications for the economy.The reason rates are above 5% today is that the world looked different in the summer, when the Fed pushed them to this level. At the time, officials feared inflation might become entrenched at 3% or higher, unacceptably above officials' 2% goal. The only way to bring it down would be through much weaker growth and higher unemployment, which is what

U.S. stocks closed higher on Monday, led by gains in energy shares as the market continued to focus on corporate earnings and awaited July payrolls data. The Dow rose 3.2 percent, its second straight monthly gain. The Nasdaq rose more than 0.2% for a monthly gain of 4.05%, while the S&P edged up 0.15% for a monthly gain of 3.12%, marking its fifth consecutive month of gains and its longest winning streak since 2021.Following Microsoft's better-than-expected earnings this week, Apple, Amazon and Qualcomm will release their latest earnings this week, and large tech stocks will continue to be the focus of investors, while waiting for the release of non-farm payrolls data this week.Hopes of a soft landing for the U.S. economy have surged in recent weeks as economic data showed continued st

ChatGPT’s rogue, jailbroken alter ego, DAN, has predicted a major stock market crash on March 15.Thi