Wow, what a week! What will we talk about? We start with the markets and Jim Iuorio -- there has been a lot of talk about a bull market, but Jim points out that much of 2015 and 2016 traded sideways. Corrections can be time or in price. There is a lot of great news lately -- consumer confidence, employment, median income. But there is concern -- will the higher rates eventually break the rally. Iuorio is optimistic but is worried about the word "accelerate" coming from the Fed tomorrow.
Anything to talk about in DC this week? Supreme Court, midterms, resignations, oh my! The Kavanaugh nomination is trouble, and Dan Mahaffee says right now the votes might not be there. Deputy Attorney General Rosenstein was said to resign, then didn't, and now he's meeting with President on Thursday. Dan says right now the Democrats midterm strategy is the Napoleonic dictum: don't get in your adversaries way while he's making a mistake.
In the third segment, Michael welcomes Dr. Jeffrey Lacker, past President of the Richmond Federal Reserve Bank. The Fed is definitely going to announce a rate hike, but Dr. Lacker explains what the Fed is discussing as they look forward. He's been in the room in previous meetings, and he thinks the markets are under-estimating how many rate hikes are coming in 2019.
It's a packed week. Listen in to the FarrCast and unpack it!
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