Geldzug: WHAT JUST HAPPENED IN AUGUST?
5 September 2022 26 August was the day when investors realized that the Fed has no intention of saving the US share market. Governors of the Federal Reserve had been warning that interest rate rises would be bigger and faster than the market was expecting, but this did not sink in until Fed Chairman Jay Powell said so in very blunt language and sent markets imploding in August. We note with some irony that one of Imperator Augustus’ (63 BC – 14 AD) last great administrative acts was to establish a fire brigade in Rome... [read more]