It’s ‘Game On’ Again for the Fed

by Rick Ackerman

After a promising selloff on Thursday, stocks ended the week in an upswing that seems likely to continue.

Permabears who might have expected a fourth straight quarter of declining corporate earnings to have a negative impact on the stock market should have learned by now that the relentless ascent of shares is unrelated to the economy.

What does matter is the ‘will-she-or-won’t-she’ game played by the Fed. The game is ‘on’ again, as you may have surmised from last week’s murmurings, and it is bound to pump adrenaline into shares when Wall Street’s best and brightest realize for the umpteenth time that no real tightening is coming.

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