The May FOMC has come and gone and, with it, any remaining sense of Fed credibility.
What a joke. What a painful joke. As your friendly host, it's always incumbent upon me to pay attention and monitor events like today's "press conference" and, what did I hear today? Not much, but this doozy sure caught my attention:
Powell: "The US economy is doing fairly well. It's a strong economy".
Q1 US GDP was -1.4%