Did the legendary R&B band Earth, Wind & Fire in 1978 unwittingly predict an important monetary inflection point for the global economy and its capital markets nearly four decades later? Two major global central banks in the U.S. Federal Reserve and the Bank of Japan will respectively emerge from their highly anticipated and watched policy meetings next Wednesday, September 21. Capital market pretenders, and there are many following seven years of relentless policy stimulus, have certainly seen their minds shifted in recent days by the notion that the Fed might actually raise rates at the same time that the Bank of Japan may finally be out of bullets for additional stimulus. Will these central bankers be able to successfully chase the investment market clouds away come the 21st night of September?
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