Tuesday/ the bears are out 🐻

The press is full of bear market reports with the recent declines in the stock market indices.

Wed 6/15, 2.00 pm EDT: Fed Chairman Jerome Powell announced that the Federal Reserve will indeed raise the federal funds rate by 75 basis points (0.75%), bringing it to the range 1.5%- 1.75%. Right now they project a rate of about 3.5% by year-end.

Here’s the New York Post. ‘Bear market has economy running scared’ .. is that really true?
The economy is running too hot, if anything, and as the picture shows: it is Uncle Sam (the government, White House) that is scared.
Investors are scared as well, of course.
There’s a bear in the Tintin adventure by cartoonist Hergé called Le Temple du Soleil (Temple of the Sun). The outcome was that Captain Haddock ran away from the bear, and came to no harm.
Originally published in Tintin Magazine in 1946-48, the cartoon strips were later collected in albums or bande dessinée in French— literally ‘drawn strips’.

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