by Tom Luongo, Tom Luongo:

I hate to gloat but, screw it. I’m gloating. With every FOMC meeting this year, Jerome Powell has become more and more hawkish, but the denial of this still dominates the headlines. He raised the Fed Funds Rate to 4.5% last week, a level unthinkable to nearly everyone, including me, this time last year.

I told you all over a year ago Powell and the Fed were going to war with Davos and the ECB over Climate Change and their push for war with Russia. No one believed me then, and rightfully so. The idea was daft given the Fed’s history, the US’s books and the reality of a “Biden” presidency seemingly hellbent on spending the US into oblivion.