Now even the Federal Reserve is publicly admitting that the U.S. economy is slowing down.  And that is quite remarkable, because usually the Federal Reserve is extremely hesitant to say that an economic slowdown is taking place.

As I pointed out the other day, in 2008 former Fed Chair Ben Bernanke kept insisting that a recession was not coming, but we found out later that a recession had already begun when he was making those statements.

Normally the Federal Reserve tries very hard to paint a rosy picture of our economic future, and one of the big reasons for that is because they want us to believe that they are doing a good job and that they have everything under control.

So it was quite stunning to hear Fed Chair Jerome Powell use the term “slowdown” to describe what is coming for the U.S. economy on Wednesday… (Read More…)