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The Toddler

Wall Street is a giant toddler.

If you tell a toddler that you cannot have candy today, the toddler interprets that as not getting candy for the the rest of imaginable time. Then comes the tantrum and the wild bawling, which to a bystander seems rather ridiculous. But then they always shrug it because toddlers will always be toddlers.

Today the Federal Reserve Chairman announced that we are very close to the range of normal interest rates. A couple of months ago he had said that we are far from normal rates. While these two statements seem to be at odds, on a closer looker it may not be.

What changed in the last couple of months however, is a market that threw a fit, kicking and screaming about how it was so unfair that the fed was embarking on a path of rate increases and how all this would accelerate a recession. Our esteemed President also took a few shots at the man in the hot seat as well and in true Trump style all the shots came with a fair amount of exaggeration and separatio…

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