If you look at the last two recessions, they were not situations where inflation got out of control," Rosengren said, envisioning the chart below. "They were situations where asset prices went way up and then came way down
"...I'm being incredibly flippant but for a very good reason... there is no logic to [buying risk assets like equities] other than to chase the gilded lily... it's nuts!"
The Church of Jesus Christ of Latter-day Saints is one of the most economically successful religious organizations in the United States. It now turns out it may have been even more successful than anyone imagined...
The bears have officially capitulated in what BofA said was "a dramatic turnaround from the Most Bearish FMS since the GFC in June 2019." And all it took was QE4.