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Negative Quarter for S&P 500 and Dow Jones
In this chapter, they discuss the negative end to the S&P 500 and Dow Jones in the third quarter. They introduce Michael Sheldon, the executive director and chief investment officer of the high tower RDM financial group. They discuss the core PCE number, the US Central Bank, and the idea of 'higher for longer'. They also talk about the September market performance, rate increases, and the potential for one more rate hike before the Fed goes on hold. They mention the possibility of a government shutdown delaying economic data and the historical pattern of the Fed cutting rates about eight months after stopping rate hikes.
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