Should equity investors fight the Fed?
Absolutely, writes Ed Yardeni last week in a report to clients. The chief investment strategist at Oak Associates is bullish and he isn’t going to let any central bank threat of higher interest rates stand in the way of optimism. “I continue to place my bets on the bull,” he asserts. And just to make sure no one misunderstands, he clarifies his view of the morrow in no uncertain terms: “There is no foreseeable reflation, stagflation, deflation, or recession in my outlook.” Take that, pessimists and nattering naybobs of negativism.