A Google-Eyed Market

Presently the financial markets remain complacent. Investors have come to regard FOMC meetings as a non-event. There has been very little damage to the stock market. IPO’s are on the fast track this year, mergers are back in vogue, as is speculation. Despite the difficulties experienced this year, experts are still forecasting another good year of single digit returns for the markets.

Is this complacency justified? I don’t think so. Rarely do markets respond favorably to Fed rate hikes. In the past 11 rate cycles the markets, the economy, or both have suffered severely.
Jim Puplava at Financial Sense Online