Baker Market Update: Aug. 28, 2017

We all know how it is with monetary policy; timing is everything. It may be somewhat telling, and perhaps apropos, that Kansas City Fed President Ester George’s timing was a little off in the planning of her celestial watch party. It was actually Monday when the path of totality crossed Wyoming, but so what, Janet and Mario are coming to town for the big Economic Policy and Post-Eclipse  Symposium!  Mrs.Yellen  is speaking this morning in Jackson Hole on the topic of financial stability because, well, she can’t really talk about  inflation,  can  she? Rising asset valuations and the lack of volatility have many Fed officials concerned  that complacent investors  are failing  to see the potential  risks lying in wait. Take off those funny-looking glasses!