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Good morning:.

Stocks are bouncing around this morning … now slightly positive … as Fed Chair Kevin Warsh appeared to give an indication at Jackson Hole that the Fed may not be done raising rates in its effort to rein in inflation. Why do I use words such as “appear” and “may?”  The new Chair seems quite careful about his wording and, according to Associated Press, “doesn’t want to provide … ‘forward guidance’ about whether the Fed will hike or cut rates of stay on hold …” … as (according to Warsh’s statement made in the past) it limits the Fed’s “flexibility.”  At the same time, he pointed out that the Fed will achieve its 2% goal. When? How? That remains to be seen.

Meanwhile, we are 18 days from the next Fed meeting and 67 days from the midterm election … so it should be an interesting couple of months.

The Iran skirmish … war … or whatever you choose to call it … is now entering its seventh month … and uncertainty remains over whether or not the Strait is freely open for transport.  The Trump administration says it is “demined” and fully open for business … while Iran claims it is closed.  Information from the Hormuz Strait Monitor reports 12 ships traveled through in the last 24 hours … so it seems both sides are partially right … and partially wrong … with their claims.

The Canadian situation remains quite troubling, and Economist Peter Schiff of Euro Pacific Asset Management gives the view that there might be “permanent repercussions” … which is quite logical as Canada will, no doubt, investigate working with other trading partners who are … how should I put this … not so temperamental.  At the same time, the number of Canadians planning to head to Florida is reported to be greatly reduced … affecting those renting homes and stores counting on them to buy goods … with the hope being that the anti-U.S. view (not helped by the attempted renaming of a lake) is only temporary.

That about wraps it up for me today as I have other things to attend to.

My driveway needs resealing … and … get ready for this … the quote given was $8,000 (which is ridiculous and the guy was lucky I didn’t have a bat in my hands).  Meanwhile, the electrician is here right now … telling me he needs to do a complete rewiring.  And he just came in my office telling me he found a “spider infestation” that I should be sure to take care of (and, admittedly, I won’t be able to sleep until it is done).

Home ownership costs never freaking ends.

I really need the market to hold up.

… just a while longer

… at least until these bills are paid.

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

New and want to subscribe to Wit & Wisdom? Subscribe here   A Look At The News | August 28, 2026 As of 11:01 AM today … There is one big problem with the Canadian-U.S. trade war.  Even if agreements are signed soon, it will be tough … or maybe impossible … to return to the way things were (CTVNews) https://www.ctvnews.ca/world/trumps-tariffs/article/the-intensifying-trade-war-may-have-permanent-repercussions-says-a-us-economist/   … while one question Florida communities have is if Canadian tourists will ever return to Florida.  This rental season is worrisome as our neighbors to the north are staying away (Fox35Orlando) https://www.fox35orlando.com/news/florida-tourism-dips-again-canadian-visitors-decline-sharply   It’s getting closer to election time … but there is one thing missing from many campaigns … discussion surrounding social security. Meanwhile the clock keeps ticking (NPR) https://www.npr.org/2026/08/28/nx-s1-5898447/social-security-trust-fund-voters   Do you want to get more done?  Don’t try so hard … as studies show benefit by slowing down and focusing on things a step at a time (Inc) https://www.inc.com/jeff-haden/want-to-accomplish-more-research-says-stop-trying-to-achieve-so-much-at-once/91397106   “Your doctor will see you now” … for a price.  Doctors are pushed to see as many patients as possible … leaving many to wonder if paying privately is a better way (Slate) https://slate.com/technology/2026/08/health-care-appointment-short-wait-solution-shortage.html   Can the “prediction markets” be gamed?  It seems that way as a fake poll … or other items … catching attention … could change the betting odds (NPR) https://www.npr.org/2026/08/28/nx-s1-5945290/fake-poll-meridian-stratgies-kalshi-polymarket The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us. Emerald Asset Management PA, LLC | 717-556-8900 | 3175 Oregon Pike, Leola, PA 17540 Want to change how you receive these emails? You can unsubscribe from this list. ———————————————————————————- The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.