Total Fed Surrender

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As ZH aptly put it, Powell has thrown in the towel. Although they’re obviously not going to spin it as such, the Federal Reserve has utterly failed in its ability to “normalize” and will be trapped in a perpetual cycle of multi-trillion dollar balance sheets and nearly-0% rates. At least until they blow up completely. I humbly suggest you watch XLF instead of /ES to see what matters.

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