This morning on The Macro Show, Hedgeye CEO Keith McCullough eviscerated Fed Chairman Powell’s recent comments at the ECB Forum on Central Banking, where Powell admitted he is “not worried about the shape of the yield curve.”

“In terms of everyone we advise… CEO, CIO, Portfolio Manager, Head Trader, there is not one person who would agree with that,” says McCullough. “The shape of the yield curve shouldn’t worry you or that you shouldn’t pay attention to it? There are levels of bullsh*t and then there’s unequivocal bullsh*t.”

“Overall economic activity appears to have picked up after edging down in the first quarter.” – FOMC Statement (6/15/22)

“That is 100% bullsh*t.”

McCullough: Powell Is Spewing 100% Bullsh*t - Hedgeye University