Investors shouldn’t worry too much, if only because it will likely be a relatively shallow downturn — in part because people are expecting it.
The plan represents the lender's most ambitious attempt in years to cut cost. It said the cuts will focus mainly on high-paid roles.
The Powell Put is invulnerable after a week of soft economic data actually gives the Fed a concrete reason rates need to ease.
Take utilities stocks, which ended September trading near 22 times earnings, an all-time high. REITs are now at their priciest in three years.