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The monthly Fed/CPI/Employment headline-market movement industrial complex was rudely shouldered aside in the last week by a much bigger and faster-moving story.
While the fallout from bank failures will take a while to unravel, and the impact on markets will likely be ongoing, the bigger picture wraps right back to the Federal Reserve.
February Recap and March Outlook
If there’s an aphorism for February that you could embroider on a pillow, it would be, “The more things change, the more they remain the same.” Markets appear to have finally started taking Federal Reserve Chairman Jerome Powell’s warnings seriously and caught up to the rhetoric that the Fed has been consist