The Fed Has Never Been Able to Time This Thing

The last two times in the last 20-some years where Fed funds have been above 5 percent, we had it go above 5 and then to 6 in 1999. We also had an inversion in 2006 and the 2010 spread. So here we are again with a yield curve inversion that Nostradommy called. The Fed has never been able to time this thing. They've always overstayed the party too fashionably late. It's just a matter of when it's going to be wrong.