The laws of economics still apply and higher prices call forth more supply while dampening demand. The long view of the market’s history, filled with booms and busts, is on our side.

The economy and the job market are not out of the woods yet,

The slump in stock prices and bond yields points to weaker economy ahead. An easier monetary policy will help the economy stay on an even keel as consumers and businesses adjust to a weaker outlook...

With the Fed expected to raise rates one or two more times and the economy doing well, we cannot recommend buying Treasuries. We would place short positions.

The impact on the economy is that unemployment will increase and maybe commercial banks will face a difficult operating situation. It’s a risk to our economy.