PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia believes the discussion of economic data should take a backseat to keeping a vigilant eye on Biden’s political movements.
“Markets are opening a little bit flat this morning. We’ll see what happens this Wednesday; it’s the middle of the week. There’s been a lot of volatility, and I don’t think that’s going to change much as we move forward through the rest of the week. I’m still watching oil at $62 a barrel, which very high. This is going to create a little bit of a tax, so to speak, an increase in discretionary spending and that’s not going to be good for the overall economy.
“One of the things I’m watching very closely is treasury yields. They’re going down after the Federal Reserve’s testimony yesterday. Today, he’ll continue that testimony, apparently giving everybody a little sense of comfort as a result of his conversation in and around inflation of what is likely not to happen. I don’t agree with the Fed Chairman. I think inflation is coming, and I think it will stay here for a little while.
“The U.S. strategy that they put down on paper in reference to China has gotten a very tepid response from Beijing. In other words, they don’t like it. You can rest assured that since they don’t like it, it will change. This administration has little choice but to change it, and it certainly will change. Look, we must be watching inflation, and we have to be watching what the Federal Reserve is doing, but the economic data is of little importance right. What’s important is keeping an eye on Biden’s ties with China.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
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