Fed on Inflation Watch

(1) Panic attacks come and go. (2) Was the 60th panic attack really a correction since it was so short? (3) Wish came true for correction hunters. (4) The latest flash crash was an abridged version of Black Monday (October 19, 1987). (5) No sign of imminent recession in LEI or CEI. (6) Growth rate of CEI suggests real GDP growth remains around 2% y/y. (7) No boom, no bust. (8) Will the Bond Vigilantes spoil the party? (9) Bond yields are normalizing. (10) Fed officials rooting for inflation to rise to their 2% target. (11) Fed staff conceding macro inflation models aren’t working, yet Fed officials continue relying on them.