FOMC increasingly irrelevant in the ‘wonderland’ economy
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The article discusses the increasing irrelevance of the Federal Open Market Committee (FOMC) in the current US economy. The author compares the state of the economy to the fantasy world of Alice in Wonderland, where nothing is what it seems. The author emphasizes the need for active risk management in the current 'everything bubble' and highlights the absurdity of FOMC meetings. The article also mentions the mountain of debt that the economy is built upon and the role of both fiscal and monetary policy in capitalizing on this debt. The author references an article by John Rubino that discusses the theme of debt leverage and the ticking clock of the economy. The article concludes by stating that the bond market is rebelling against debt excess and warns about the dangers of Ponzi schemes. The author is Gary Tanashian, proprietor of the financial market website biiwii.com and a contrarian investor. The article was published on Kitco News.

#Fomc #UsEconomy #Debt #RiskManagement #MonetaryPolicy

https://www.kitco.com/opinion/2024-05-02/fomc-increasingly-irrelevant-wonderland-economy