Is the Fed Messing With the Framework?

The world has changed. Does that invalidate any of the leading indicators that have been reliable in the past, or not? And how should we adjust for the fact that now it feels like what's going on here is central banks are really much more in charge of the show than they ever were in the past)? Great question. i love these questions, cause we get to step back a little bit and just be a little bit more thoughtful. An then like the ouow data day stuff. Ok, locke, since you asked for the question, i'll hit you with what i think is the most challenging part of all this.