Oh No He Didn’t?! – Fed-Man is Talking Trash

Stocks got a reprieve last week thanks to an FOMC dot-plot indicating a lower and later Fed Funds Rate hike timeline. But it’s time for a reality check. The Fed is going to raise rates this year, and it very well might do it twice before Christmas. So, the celebration expressed in stocks should be short-lived as investors reevaluate the Fed forecast. Fed members are making speaking engagements now that the FOMC meeting quiet period is over, and what some are saying is unsavory for stocks. So, while we may enjoy some upside near-term, it looks like investors will be wise to second guess by mid-August. See more on the Fed speaker stirring concern. Article interests SPDR S&P 500 (NYSE: SPY), iPath S&P VIX (NYSE: VXX), Financial Select Sector SPDR (NYSE: XLF), Bank of America (NYSE: BAC), Citigroup (NYSE: C), J.P. Morgan Chase (NYSE: JPM).

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