The Fed Isn't Data Dependent, but It's Going to Take Some Time

There isn't a data goes by where I don't see some fortune 500 company actually cutting the workforce in just the last few weeks. Peloton, Snapchat, Alphabet, Microsoft, what was the last time Microsoft was forced to cut jobs? The Fed has to do their job. They screwed up last year. A year ago in November, Jay Powell said it was time to retire the word transitory. Yet they kept buying bonds in the open market all the way until March quantitative easing didn't make sense. And now they're trying to rush to the other side of the lifeboat to arrest this thing.