2022-03-17

The Worst Time in History to Buy Stocks

Not as bad as at the peak in early January, but still the worst time to be buying stocks. The dip buyers are totally clueless about what is happening.
Finally, there’s a great deal of chatter these days about whether the Fed might be risking a “policy mistake” by raising rates, or by not raising rates. This chatter vastly overstates the correlation between small monetary policy actions and economic outcomes. In my view, the Fed’s major “policy mistake” is well behind us. I described the error – abandoning a systematic policy framework for more than a decade, in favor of purely discretionary one, in a recent Op-Ed for the Financial Times: The Fed Policy Error That Should Worry Investors.
Could not agree more.

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