RE:RE:RE:RE:Notice a trend?The FED’s statement yesterday was pretty mild, considering how hot some supply chain constraint inflation has been running. They stick with the fundamental view a lot of temporary pricing changes are caused by Covid disruption - lumber and sawmill slowdowns being a poster child.
Infrastructure and social services spending appear to be with us for a long time to come, the demographics of continued rural migration and mechanization of agriculture, growth of middle class in expanding economies ... maybe even wage increases in the developed world that seem long overdue.
Personally, this is just a trader and pro trading thing, not a significant moment unless I am misinterpreting. Sharp correction for traders and to me the same themes and trends - especially zero or negative real rates and a long term weakening of the US dollar ... remain the dominant secular trend.
I’m definitely just on the sidelines watching, doing nothing but shaking my head a bit at short-term emotional needs for news, action, excitement. Looks like a made up moment. And a little price correction isn’t so bad.
cg