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Throwing in the towel
After a multi-year effort, at enormous taxpayer expense, and amid a barrage of presidential criticism – it is over. Finally. Both the outcome and the effort itself have drawn criticism from both sides of the aisle, and with little transparency as to the process itself, we are left with only a summary and a sealed set of documents which will eventually be released to the public. We are speaking, of course, about the portentous decision in late March by the Federal Reserve to “pivot” its interest rate policies. [If you thought we were speaking of the Mueller Report, we don’t “do” politics in these newsletters. We stick to the easy stuff].