On The Fed, The BOJ & S&P 500 Earnings

Fed Chair Powell came across as hawkishly dovish in his latest public remarks, observes Melissa. He noted risks to the labor market, the near completion of the Fed’s quantitative tightening, and inflationary pressures that are only temporary—all dovish points. But he warned of risks in whatever action the Fed takes. Other Fed officials speaking recently echoed Powell’s measured approach. … Also: William discusses the risks posed by the yen carry trade, a strategy that gains appeal as the yen falls. If this speculative trade fails, it puts markets everywhere at risk. … And: Joe analyzes S&P 500 companies’ estimate revisions data, which he finds to be impressively strong for most sectors.