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CHART OF THE DAY: There Goes The Fed's Credibility - 01.28.16 Chart

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:


  1. The Fed continues to be a pro-cyclical version of a Labor Economist (Overweight #LateCycle employment data)
  2. The Fed continues to call something that’s been pervasive (#Deflation) “transitory”
  3. And, as a result, the Fed continues to be behind the curve, lagging both real-time economic data and market moves"