The economy is weaker than the Fed thinks

YouTube In the title, I tried to sum up what this post is about. But I have so many thoughts – post-rate hike – on what is happening, so I probably did a poor job. Even so, let me say at the outset that have been pretty bullish on the US economy’s ability to power through. But I am uneasy about where we are in the economic and credit cycle and the accuracy of the Fed’s forward guidance. I think we are above stall speed now. But I also think global policy divergence, slowing earnings grow...