Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
"... That is why the #Deflation & #GrowthSlowing bears won (again) yesterday. To summarize:
- The Fed continues to be a pro-cyclical version of a Labor Economist (Overweight #LateCycle employment data)
- The Fed continues to call something that’s been pervasive (#Deflation) “transitory”
- And, as a result, the Fed continues to be behind the curve, lagging both real-time economic data and market moves"