Equity market wont get really hurt until credit markets (high yield) demand more QE and Powell refuses. Junk is currently closed to new issuance. That suggests July we gets real. We are 7 times more leveraged than we were in 2008. Crisis to Crisis .

What did we learn today? 1. Fed days are invitations to squeeze the stupid short money, and 2. Equity market wont get really hurt until credit markets (high yield) demand more QE and Powell refuses. 3. Junk is currently closed …

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Can the Federal Reserve continue to take no action until its March 15 meeting? They made the policy mistake a year ago. Now they are doubling down. Oops. They have no good choices.

Can the #FederalReserve continue to take no action until its March 15 meeting? Reports like this will make that 1-month delay look very bad: pic.twitter.com/O9wVnuohl0 — Hilliard MacBeth (@hmacbe) February 15, 2022 Producer-Price Inflation Unexpectedly Hot… U.S. consumer sentiment hit …

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