With rate-hike odds plunging for every meeting across 2016, and bond yields collapsing almost as fast as stocks, it appears the market's faith in the The Fed is faltering fast...
Crude is now down 20% since The Fed! Stocks down 7% and bonds and bullion up 2% - does that sound like The Fed's decision inspired confidence?
No - of course not. But then there's this:
“You should trust the Fed, not the markets,” Posen told Tom Keene and Francine Lacqua on Bloomberg Television on Tuesday.
“I think the market is under-pricing the likelihood of both a March rise and the number of rises in the year to come.”