Editor’s note: This is a lightly edited transcript of the accompanying video from professor Peter St. Onge.
“Recession triggered,” reads the headline from Zerohedge as jobs collapse, unemployment jumps, and the dreaded recessionary Sahm Rule triggers.
The Fed seems to agree, with markets now predicting a half-point rate cut in September, and two of America’s largest banks—J.P. Morgan and Citi—predicting another half-point cut at the next Federal Reserve meeting just after the Nov. 5 election.
A full point in two meetings qualifies as panic in central banking.
And considering inflation is still in full swing, and the Fed knows rate cuts make inflation go up, that would strongly suggest the Fed is battening down for a hurricane, whatever sweet nothings Chairman Jerome Powell is peddling these days to make sure the normies get blindsided.
The dismal…
