Back in the early 1980s, the Fed tried to gradually squeeze high inflation out of the economy, so as to avoid a bout of high unemployment. They failed.

This past week’s economic data pushed stocks into unchartered territory. First, the 4th quarter GDP came out above consensus at a blistering 3.3% pace. PCE came in as expected, but year over year was at 2.9%. Below the expected 3%.

Could the backdrop going into next Wednesday’s Powell press conference be any more intriguing? The economy has gained a head of steam since the FOMC’s December 13th meeting.

Earlier this week we reported that the primary reason why bitcoin has been sliding ever since the arrival of bitcoin ETFs on Jan 10 - an event that had been lauded as very bullish for the crypto space but instead promptly sparked a bear market...