Powell’s ‘Put’: Out of Money and Time

Powell’s ‘Put’: Out of Money and Time
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve in Washington on July 27, 2022. Drew Angerer/Getty Images
Michael Pento
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Commentary

Despite all the fanfare and cheerleading you hear in the MSFM, the recent bounce in equity prices has just been a rather pedestrian bear market rally. Bull markets are not engendered by a faltering global economy, very high rates of inflation, and the most hawkish global central bank tightening cycle in history.

Michael Pento
Michael Pento
Author
Michael Pento is the President and Founder of Pento Portfolio Strategies. He produces the weekly podcast called “The Mid-week Reality Check.” He's also the author of the book “The Coming Bond Market Collapse.”
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