by Graham Summers
Remember how the Fed claimed it was embarking on a tightening cycle?
Well, the Fed failed to hike interest rates in January, March AND April despite the “data” hitting levels at which the Fed said it would hike. There is now talk of a potential hike in June… but the Fed futures indicate less than half of traders expect another hike before February 2017.
All talk of a tightening cycle was just another “point” in the narrative of recovery. The fact is that there has been no significant recovery for the US economy. Sure things look great if you ignore glaringly horrific data points like the employment/ population ratio, and other unmassaged data points.