So typical of the Fed. The earlier data distortions have made people lose faith in the numbers—at least the market isn’t buying them anymore. The odds of no rate hike in October have shot straight up to 80%. I said during the livestream that, given the Fed’s usual habits, it would definitely put on a bit of a show and wouldn’t let the market off easy—but that wouldn’t change the outcome. And sure enough, here it comes~~~
