The post-election financial fever has cooled for the moment, rates sliding slightly. Trading in markets since the election cannot be traced to changes in the economy; all have been reactions to prospective changes in policy.
- Employment and purchasing data for this month are almost exactly on trend.
- The Fed has indicated it will act if the economy becomes overheated due to new policies.
- More investors and businesses every day are coming to the same conclusion: nobody knows what will happen.