Markets didn’t know which direction to go last week as they tried to decide which had more weight: the good news or the not-so-good news.

Now that summer is winding down and we’re beginning to look forward to the fall, the overall mood (and the weather) needs an adjustment. Markets are in a mood and have begun to traffic in rumor and innuendo with the combination of a dismal news cycle, scant data, higher gas prices and stubborn inflation.

What is needed to get back on track? I believe the Fed needs to stop raising rates. It’s not a magic solution; if the Fed stops raising rates, things won’t automatically revert back to all good or normal. We need to get government spending in line, and the consumer needs to get healthy again before that can happen.

Maybe Lionel Ritchie was on to something. It would seem this story shouldn’t be a story, but given today’s political climate, here we are.

Hiring has been strong this year, especially at restaurants and retailers. But is there a change coming?