The Market Is Totally Unprepared For A Surprise From The Fed

Traders have been talking about the Kansas City Fed’s Jackson Hole economic symposium for months now, and as the big day arrives, there is one word to describe financial markets: complacent.

The Cboe Volatility Index, the informal fear gauge for the stock market, remains subdued, more than 50% below its levels ahead of the U.S. election.

It…

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