Comments by "Daniel Bradford" (@Falconlibrary) on "Technicals show the market has bounced, not bottomed: Craig Johnson" video.

  1. The wild card, of course, is inflation. If it continues to be high, the Fed is going to have to raise interest rates a lot higher. Right now, they're not high enough combat this level of inflation. If you factor in housing, the inflation rate is about 12.5%, not 8.6%. The next inflation update is scheduled for release on July 13 at 8:30 a.m. and I predict it'll show that inflation is either steady at 8.6% or even a bit higher--and 8.6% is a ruinous number over the long-term. The problem with our current inflation is that monetary policy won't have the effect on it that it once did, since a lot of it is driven by chronic supply side problems (shortage of commodities and labor). The CBO, which has a very good track record in these matters, has projected that inflation will remain high into 2023. To paraphrase a Seinfeld episode: "That's not gonna be good for stocks. That's not gonna be good for anybody."
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