Raise, Reduce, Run, Rhetoric: The 4 R's On Powell's Agenda

There is pent-up demand on the consumer side of the economy, notes Mario J. Gabelli. He talks about how Fed Chair Powell still has four R's on his agenda: raising rates, reduce aggregate demand, running off holding on the Fed's balance sheet, and he has to use rhetoric. He discusses how the SPX could call back under 3500 or 3800 or 4000, and he expects China's economy to surprise to the upside. He then goes over where he is currently investing. He also highlights that he anticipated that the stock market would be stronger in the fourth quarter than in the first half of the year, but it was stronger in the second quarter. Tune in to find out more about the stock market today.