Chairman Powell Admits Fed Is In the Dark.

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In this report, I cover the early market action from London on Thursday, November 29th, 2018. I look briefly at the precious metals, the stock market, the dollar, the bond market, and the energy market.

Today I focus my attention on the speech given by Federal Reserve Board Chairman Jay Powell given to the Economic Club of New York yesterday. His comments helped trigger the biggest stock market rally in about eight months as he said the Fed was now "just under" the range of neutral rate. Back on October 3rd, 2018 he had said the Fed was a "long way from" the neutral rate. The market took that as a dovish stance.

My conclusion from the speech though is that the Fed is the dark as far as what will happen to the economy and markets and I can also point out that it was the Chairman himself who told the world just that as he used the analogy that theFed was in a pitch black living room and had to walk very carefully around the furniture.

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