The Fed will end up playing chicken with bond markets

Hearing what Boston Fed President Eric Rosengren makes of the US economy, you get the feeling that the Fed may not be ready to roll over completely. And with the yield curve inverted between the 3-month and 10-year yields, we are at a crucial time regarding the importance of Fed policy action. So I want to lay out some of the possibilities here.

The Rose…

This post is for paid subscribers