In August, Money Morning Capital Wave Strategist Shah Gilani answered the question, “When will the Fed raise rates?”
He said that, should U.S. stocks rally over the summer, he expected a September rate hike.
But rally they did not…
On Aug. 24 — “Black Monday” — the Dow Jones Industrial Average fell 1,089 points minutes after market open due to a stock market crash in China. The DJIA ultimately lost 586 points that day. Black Monday changed the Fed’s outlook over a rate hike in 2015.
Should We Abolish the Fed? Millions of Americans assume the Fed acts in the nation’s best interest and that our nation has always had a Fed. But the central bank’s original, century-old purpose no longer applies to modern-day markets. Far worse than that, the Fed’s actions have actually damaged the U.S. economy…
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