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Stocks had another mild session on Thursday even though Durable Goods exploded higher above estimates. Unfortunately investors seem more transfixed as to what Janet Yellen will say in her Jackson Hole speech today.
Does it really matter?
Not really. A rate rise September is truly no different than one in December in the grand scheme of things. It's like you move a Dentist check-up out by a month or two...you still keep brushing your teeth just as you did in the past.
The "when?" is MUCH less important to the pace of rate hikes in the future. On that front they have assured us for nearly two years it will be low and slow. There is no reason to change that outlook now.
So let Janet enjoy Jackson Hole. And you enjoy using your time to investigate things of greater benefit...like which new Zacks #1 Ranked stock to add to your portfolio now.
Best,
Steve Reitmeister
Executive Vice President, Zacks Investment Research
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