Daily Ticker: Rand Paul Blamed for Putting the U.S. Economy & Markets At RiskSubmitted by SteveMT on Mon, 10/28/2013 - 11:35
One Man Is Putting the U.S. Economy & Markets At Risk, Says David Kotok
By Bernice Napach – 46 minutes ago; 10-28-2013
The S&P 500 (GSPC) hit another record high last Friday, closing at 1759.77 and capping a 23% year-to-date gain. Early Monday the S&P 500 was trading about 2 points above Friday's close. Relatively strong earnings and expectations that the Fed will continue its monthly bond purchases and zero interest rate policy have helped push stock prices higher.
David Kotok, co-founder and chief investment officer of Cumberland Advisors, had been expecting further gains in stocks, but now he tells The Daily Ticker that the market and the economy are vulnerable because of one man -- Senator Rand Paul.[emphasis mine]
CNBC reported last Friday that Sen. Rand Paul is threatening to put a hold on the nomination of Janet Yellen to chair the Federal Reserve. Sen. Paul's office confirmed that report in a statement: