“It’s Not The Economy, It’s Eurodollars, Stupid!”

Original post

Authored by Jeffrey Snider via Alhambra Investment Partners,

Rate Of Change

We’ve got to change our ornithological nomenclature. Hawks become doves because they are chickens underneath. Doves became hawks for reasons they don’t really understand. A fingers-crossed policy isn’t a robust one, so there really was no reason to expect the economy to be that way.

In January 2019, especially the past few days, there are so many examples of flighty birds. Here’s an especially obvious, egregious one from Atlanta Fed President Raphael Bostic. He was so damn positive at the end of October just three months ago he admitted it was giving him problems wordsmithing. Two and a half months, really.

The economy is in a good place. So good,

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