HOW THINGS WORK TODAY: “FDA officials told reporters Tuesday that they do not expect anyone at the FDA to be fired or reassigned over the infant formula shortages.”

WASHINGTON—The head of the U.S. Food and Drug Administration proposed consolidating the leadership of the food side of the agency Tuesday, in response to criticism of its slow response to the baby formula shortages and other food safety concerns. The …

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The S&P 500 has seemingly gone ‘all in’ on the soft landing playbook… ISM comes out, showing new orders collapsed in January…Wall Street insiders are selling more than they did in 2022!

“The S&P 500 has seemingly gone ‘all in’ on the soft landing playbook. Yet, this is incompatible with a chronically inverted Treasury curve, historically weak money growth, and sustained weakness in other leading indicators…We would hedge long equity exposure here:” …

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