The bears talk China’s manipulated currency

Euphoria and stimulus aplenty risk speculative excesses

While the Fed’s communication toolkit has steadily expanded since 2000—from formal post-meeting statements to press conferences and quarterly projections—a deliberate rollback of forward guidance could reduce policy transparency but also curb market misinterpretations that have plagued rate forecasts.

News of slower job growth, slowing wage growth, and a slight uptick in unemployment helped drive down Treasury yields, and stocks finished the short week with a strong rally