There was never going to be a ‘V’ because the bowl was always empty

Alhambra Investments/Jeffrey P. Snider/6-11-2020

“What was stupidest about the past few months was how it was these guys who everyone was depending upon to make it all go just perfectly moving forward. Worse, those geniuses being held up as competent economic stewards practically reran the 2008 playbook line by line. What that said, more than anything, was that they had come up with zero new ideas. Nada. Zip. A full decade to think about it and just more of the same. Of course, Janet Yellen said this could never happen again. Not in our lifetimes.”

USAGOLD note:  So begins a scathing review of the Powell Fed chairmanship with a few well-placed broadsides aimed at the Yellen and Bernanke tenures thrown in for good measure.