PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discusses what economic news should be reported instead of the actions of the Federal Reserve.
“Everybody seems to be talking about how the Fed must walk a very fine line. They’re saying he’s going to have to be extremely careful about what he says. It’s going to be very, very interesting to see him walk this fine line. If he says, “You know what, the economy’s doing really well; it might be heating up a little bit. We are likely going to have to raise interest rates a little bit sooner than 2023,” then the market is going to tank. If he says that he’s not likely to raise interest rates till 2022, nobody’s going to believe him. The market’s not going to tank right away, but they’ll be expecting it to happen down the road a little bit.
“Look, I don’t know why the financial news covers the Federal Reserve. I understand the markets are dependent upon what the Federal Reserve does. I also understand that they shouldn’t be. I want to think about the economy, and right now it doesn’t look good.
“The productivity number is at negative two and a half to three percent. That means there was no growth. You can’t have growth and no productivity. That was a dramatically lower number than what everybody expected, which was about a plus half of 1 percent. Nobody’s talking about it. They barely reported it. There’s talk that gasoline is going to go over $4 a gallon before it begins to pull back. It is going to be almost impossible for the Federal Reserve not to act sometime in the latter part of this year.”
Dan 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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