On the heels of the Fed raised rates, today one of the greats in the business told King World News that the Fed is about to make a huge gamble that’s going to end in disaster.-

Peter Boockvar:  “Notwithstanding a cut in the Fed’s inflation forecast for 2017 (they kept their 2018 estimate), Janet Yellen is intent on raising rates again this year and initiating quantitative tightening.

This in the face of a clear slowing in economic growth and it’s no wonder the yield curve continues to flatten. On the possibility of QT (shrinking the Fed’s balance sheet), she said it could begin “relatively soon” but I think Yellen and the Fed are deluding themselves if they think this will be “like watching paint dry” as President Harker said…more here