McCullough: The Fed Is Living In a Fantasy World On Inflation & Unemployment

Today on The Macro Show, Hedgeye CEO Keith McCullough discusses S&P 500 earnings estimates and the Fed’s forecasting process moving through this #Quad4 environment.

“The Fed’s forecasting process is a joke,” says McCullough. “The Fed’s assumption on unemployment, is that they can take inflation from 8% to 2% and that unemployment is only going to go up 40 basis points. I was laughing so loud I couldn’t ask a question.”