by Jocelynn Smith
The Sovereign Investor
The market took a beating on Friday to close the week with a loss, but don’t worry — the true panic selling hasn’t kicked in yet … but it’s coming.
A couple members of the Federal Reserve sauntered out on Friday to make some hawkish comments that showed they were in favor of lifting interest rates — as if we could have forgotten about the fact the Fed has been murmuring about higher interest rates for a few years now. But Boston Fed President Eric Rosengren’s and Fed Governor Daniel Tarullo’s comments were enough to unsettle traders when it comes to the next Fed meeting on September 20 and 21.
Of course, higher interest rates are all pinned on a stronger economy. So, let’s take a look at the facts: