Elliot H. Kallen

Financial Planner, Wealth Manager, Registered Principal
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Fed chair extands a dovish hand lifting stocks

Extending a hand in support of a more dovish monetary policy stance, Federal Reserve Chairman Jerome Powell signaled a pause in rate hikes in 2019.​
On November 28th, Mr. Powell tempered previous remarks about raising interest rates, and, that same day, newly-released inflation data lent support to the Fed chair’s more dovish stance.​
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A Recalibration of earnings growth

The stock market has struggled recently, as investors recalibrated expectations for earnings growth.​
Here’s what happening.
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Amid a swirl of controversy fed policy remained stable

Despite the double-digit plunge in stock prices and unusual rebukes by the President, the Federal Reserve Board just repeated its long-held strategy for controlling rates and inflation.​
Using almost the exact same words as in September to describe the outlook, the Fed monetary statement said nothing had changed.​
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More good economic news on Friday

The S&P 500 closed on Friday 7% off its all-time high, and the double-digit market correction of October halted last week. New jobs surged in October and wages rose by the largest year-over-year amount in nearly a decade.​
New jobs surged in October, unemployment stood at a 49-year low, and wages rose more than they have in nearly a decade. But the really big story, which received scant mention in the media, is that productivity soared again.
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Analyzing The Market Correction

The Standard & Poor’s 500 index fell into correction territory on October 26 by dropping more than 10% from its all-time high five weeks earlier.
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Market Data

Market DataBank: 2Q 2018

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