The Federal Reserve’s announcement of continuing the stimulus program without change surprised many investors and pundits. The media is much guilty of the hype surrounding the September announcement. In a note sent to our investors on the 9th we indicated that the most likely scenario in our view was that the Fed would continue the stimulus program unchanged and that tapering ...
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Our Comments on Markets Prior to the Fed Announcement
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New Frontier
Dr. Richard Michaud wrote the following on September 6th. On September 9th, we sent it to our investment clients: “The August labor report just came in today. It is a bit weaker than expectations and July and June revisions were downward, some significantly. While no one can predict what the FOMC will do, I think it is fair to say no one will be predicting a startup of seri ...