Albert Edwards: This Is The Ice-Age Endgame

Back in mid-December, after the Fed's first, and very shocking, dovish pivot when just two weeks after Powell said it had been "premature" to speculate on rate cuts the Fed suddenly changed its mind (despite very strong economic reports in the interim) and unexpectedly revealed it had been "discussing a timeline to start rate cuts"...

... in the process, sparking the biggest market meltup in a decade, we explained that there was no mystery behind the Fed's sudden change of heart: it had everything to do with Biden's woeful performance in the polls.