Your Daily Bit of Wall Street Wit & Wisdom

Roaring 20s

Actress Betty Field dances the Charleston during a poolside party scene from the 1949 movie The Great Gatsby (Bettman / Getty)

“The financial community is now secure in the knowledge that the most powerful banks in the country stand ready to prevent a recurrence of panic.”
— New York Times, 10/24/1929, h/t John Kenneth Galbraith’s The Great Crash of 1929

This past week’s release of the minutes from the late-January meeting of the Federal Reserve’s policy-making committee reflected a dovish Fed friendly to the markets.

Perhaps overly so.

We shall see.  In any event, keep calm and enjoy your weekend.

Best regards,

Steve

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