The Fed Is Scared Shitless

Commentary out of the Fed over the last few weeks indicates to me that our central bankers know they are doing far too little, far too late.

The events in monetary policy over the last few weeks have reminded me of an article I wrote almost 4 years ago to the day, in 2018, called “The Fed Is Gutless And By The Time We Realize, It'll Be Too Late”.

The point of that article was to note that by the time the Fed felt forced to take decisive action, it would already be too late. I’m reminded of i…