a 1, 2, 3 punch, dana. the hurricane which was moving so slowly was just dumping foot after foot after foot of rain on top of ground already saturated from a very wet summer pushing water up the rivers and into the tributaries. as soon as the wind hit the atlantic ocean it swings around like a big right hook to cause storm surge. we have roads knocked out. breaches of our dunes, we have some bridges that frankly need to be checked by engineers probably before they are reopened to traverse safely. and we have sewage plants that have been completely swamped. florida power and light does an amazing job. they are getting the electricity back on. cell service is spotty but my local officials are telling me this was worse than matthew and worse than irma for us even on the east coast. the fear is people didn t take
Most market analysts expected the Fed's 75 basis point increase announced last week - but few anticipated Fed Chairman Powell to describe continued aggressive hikes into 2023. Annex Wealth Management's Dave Spano explained that after hitting us with a left jab, Powell seems to be announcing a right hook intended to lower inflation - and perhaps knock the economy out in the process. Dan O'Donnell and Dave Spano discuss what may come next.
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