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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.

"... When it comes to establishment economists, they don’t think in rate of change terms – they think about levels.

 

And that, for those of us who have evolved in this profession, is a damn shame. It’s not like 2nd derivatives (high-school math) are new. It’s not that people winning Nobel Prizes in Behavioral Economics should be epiphanies to these central-market planners either. What’s super sad about all of this is that no leader in either our established government or media holds these unelected people to account."

CHART OF THE DAY: What Unelected Fed Bureaucrats Continually Miss - 06.22.16 Chart