The Fed's missteps and flip-flops this week tripped up multiple markets. After accidentally announcing its ammo is down to one last bullet against recession, can it be trusted to handle powerful weapons?
Given how the stock market is now trading on nothing but the Fed, it's no surprise that its heart leaped instantly in the middle of the week when New York Fed President John Williams (a voting FOMC member) said the Fed should respond quickly to recessionary headwinds with its own rate cuts.
Obviously, investors couldn't care less about drilling into why the