A 25-basis point rise is built into the markets. What's not built in, and there's a chance this could happen, is that they might shift the balance of risks to favor inflation, which would mean that rates will rise more aggressively next year.
More Quotes from Hugh Johnson:
As the transition from the bond business to the stock business takes place, the stock business needs to recover.Hugh Johnson
The ISM report was good news in two ways. There's a big difference between contraction and a slowdown and the number still showed expansion,
Hugh Johnson
The stock market rally today is because we drove the market down to levels that were on the cheap side and when you get news like the leading indicators saying things are going to be good for the economy and profits, that attracts buyers.
Hugh Johnson
When it appears as though the governors of the Federal Reserve believe that the end of the rate increases is near, that's very good news for investors. A lack of ambiguity from the Federal Reserve is always a little bit of a shocker.
Hugh Johnson
Investors become very guarded at the point that they think oil prices could take a chunk out of economic growth,
Hugh Johnson
The good news was good enough to more than offset the worries about wages and Federal Reserve policy. There is an emotional component to the market today. Some speculative spirits are starting to stir.
Hugh Johnson
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