The next Fed meeting is in 11 days, and this time the markets are not all that volatile. Stocks are still near all-time highs, and almost nobody expects the Fed to raise rates in November.
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For reasons I can't fathom, investors are obsessed with central bankers, hanging on their every word, parsing out every little detail or tone of voice. For the better part of a decade, we've seen this obsession send markets zooming ahead in moments, or selling off steeply just as fast, all totally divorced from economic fundamentals.
So they can bring gains or losses in short order, but I submit that, in fact, nearly seven years of near-zero, zero, and sub-zero interest rates have made it clear that central bankers have lost control, with very little in the way of real influence beyond short-term rates.
Long-term rates, which have a much broader impact, remain subject to market forces. And today I want to share with you a chart that shows those rates are on the cusp of a secular trend that's going to make early investors a ton of money, once they know how to bet...
At the Fed's Jackson Hole symposium last month, there were strong hints from Fed Chair Janet Yellen and Vice Chair Stanley Fischer that they want to raise rates in the near future, but they have broken such promises before.
Those broken promises are likely what lead investors to continue their staggering complacency, and they missed some very disturbing noises about the Fed's plans to deal with the next recession.
These plans are unconstitutional and dangerous, but they're only the next step in a quiet revolution that's already being waged by central banks worldwide.
Credulous, complacent investors put themselves at risk of catastrophic losses as this "revolution" moves further along toward its only logical conclusion...
The wholesale destruction of free markets - and the wealth that people have parked there...
The Committee to Destroy the World opened is hydra-headed mouth one too many times last week.
The result was the biggest drop in stocks since Brexit.
The Dow Jones Industrial average fell nearly 400 points or 2.1% on Friday while the S&P 500 dropped nearly 54 points or 2.5% and the Nasdaq Composite Index also shed 2.5% and nearly 134 points.
With central banks owning $25 trillion of financial assets and sovereign wealth funds owning countless trillions more, it is time to ask whether capitalism as we know it is a thing of the past.
These non-economic actors have different motivations than traditional investors who buy assets in order to earn a profit over a reasonable period of time.
Perhaps more important than who wins the presidency is who will be the next chair of the Federal Reserve.
The markets' worry over the possibility of a Brexit - that the United Kingdom may actually pull the trigger and leave the world's biggest economic bloc - has been driving volatility for weeks.
Here's the thing... For all the coverage and attention the Brexit is getting, no one's talking about the most frightening prospect - by far - that's going to happen if Britain exits the European Union.
I addressed it on FOX Business' "Making Money with Charles Payne" last Wednesday and got Charles to admit he hadn't heard anyone ever discuss it.
Well, that's because no one's thought about it. Make no mistake - this possibility is out there, and it's the ultimate black swan.
With the markets hanging on to every word coming out of the Federal Reserve, it's important for investors to pay close attention, too.
The name "Federal Reserve System" is supposed to conjure up nice, comforting images of a safety net, of a system to safeguard the economy of the United States. In fact, its creators were adamant about not calling it a bank... because banks and bankers were feared and loathed then - as they mostly are now.
But the truth is, the Federal Reserve System (remember, it's not a bank, it's a "system") is killing this country.
And the damage control we heard from Janet Yellen yesterday just proves how screwed over everyone who lives, works, pays taxes, has a bank account, or invests in this country really is, all thanks to the Fed.
Odds of a Fed rate hike in June just rose after the Federal Reserve Bank of Boston president said the U.S. is near meeting most of the economic conditions policymakers set in order to increase rates.
While a rate hike next month is on the table, odds of a move in June remain slight.
After yet more lackluster economic data and the dovish tone from the Fed's April meeting, many investors are anxious about where markets are going next.
The Fed hasn't been able to get the modest 2% inflation it wants, so it's about to kick its efforts into overdrive.
Investors want to believe the Fed can support the stock market, and pundits are working hard to convince everyone that the bear market is over.
Don't fall it. This rally is unsustainable, and the Fed's forging monetary policy with flawed data that's doomed to fail.
One current and three former members of the American branch of The Committee to Destroy the World - otherwise known as the Federal Reserve - met last week in a public forum to discuss their work.
After another dovish Federal Reserve interest rate statement from Chair Janet Yellen yesterday, global stocks and commodities are rallying.
Investors can now expect lower interest rates to last deeper into 2016.