We know in the Pacific Northwest, rain is a fact of life, more so in the winter and spring than in the summer, it does rain in the summer but that is not the normal day. A normal summer gives us lots of sun with rain occasionally, whereas winter supplies us with lots of clouds and rain and bits of sun. Over a full summer we are not disappointed over the amount of sun we get, this is the “long-term”, and this is climate.

After a brief hiatus, we return following a week with few economic and market reports. That is not to say that the week was without news, most notably when Fed Chair Jerome Powell spoke Thursday and spooked the markets with the comment that the Fed is a long way from done in its fight against inflation.