Stephen Stanley Might Quotations

There's a game of chicken going on with traders wanting to go short but too afraid of month-end demand to risk it. Anyway, nobody wants to be short in a holiday week when anything might happen geopolitically.

If inflation doesn't accelerate much from here, and the Fed just raises rates a little more, we might see something like the end of the 1990s again. But if the Fed has to really ramp up to fight inflation, it's going to be a much worse environment than investors realize.