Editor's Note: Below is a brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here if you'd like to subscribe and get ahead of the consensus.
"... As you can see in today’s Chart of The Day, “Serial Over-Optimism”, the US Federal Reserve has overestimated US GDP growth by approximately 100 basis points every year since Ben Bernanke had the courage to act on economic models that don’t work.
What’s 100 basis points?
- Uh, the difference between 1% and 2% GDP growth
- The Difference between a 10yr Bond Yield of 2.0% and 3.0%"