Do you remember last December? The stock market wasn’t the raging bull it is today. It was reeling from a sharp correction. All the gains of the year were quickly erased on Trade War fears and investors’ waning confidence in the Fed’s decision to raise rates for the 10th time since the Great Recession. How times have changed… One year… three Fed rate cuts… and a bailed-out Treasury repo market later and the Dow is inching towards 30,000. That’s a 30% gain in 12 months… tripling the annual rate of return for the past 90 years. No one saw that astronomical rise in stocks coming last December. But that’s the reality we live in today. Today’s market is ruled by the Fed. It’s mission: inflate… and keep history’s longest economic expansion going… So far it’s working. Money is
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