Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• B of A Says Rush to Cash Is Now at Fastest Pace Since Pandemic
• Cash is king, with investors fleeing to the safety of cash funds at the fastest pace since the coronavirus pandemic as the Federal Reserve remains firmly hawkish, according to strategists at Bank of America Corp.
• Fed Chair Jerome Powell indicated this week that he’s prepared to push interest rates as high as needed to stamp out inflation, even as the central bank eyes a downshift to a slower pace of increases.
• Among other upcoming catalysts, Americans head to the polls on Tuesday for midterm elections to decide control of both chambers of Congress, the governorship in 36 states, and countless other local races and ballot initiatives.
• A Republican win would mean tighter monetary policy and further yield curve inversion, Hartnett said. A Democrat win would translate into looser fiscal policy and a steeper yield curve, he said.

Read the original article by clicking here.