Gold recovered sharply after the Federal Reserve raised rates, holding above $4,300 and ending a three week losing streak as every surveyed Wall Street analyst forecast further gains and Main Street investors strengthened their bullish majority.
The Dow recorded its worst week since March as Treasury yields climbed above 5%, oil stayed above $100 per barrel and investors absorbed the Federal Reserve’s first rate increase in three years.
Goldman Sachs says declining happiness and trust may help explain why consumer sentiment remains deeply depressed despite solid economic indicators, raising questions about whether sentiment can still reliably predict economic dynamics.
Michigan Republicans are examining Rx Kids over unrestricted payments and absent income limits, while supporters defend the maternal cash assistance initiative as flexible relief for families facing mounting economic pressure.
Trump demanded interest rates of 1% or less after the Fed unanimously raised rates to 3.75% to 4%, while revealing that he discussed Kevin Warsh’s planned vote before the central bank reached its decision.