The Open Warfare Between the San Francisco Fed and Jerome Powell's New York Fed

David Rothkopf: The open warfare between the San Francisco Fed and Jerome Powell's New York Fed is pretty much obvious. He says credit spreads have actually narrowed, but they're not at any kind of alarming level. And if you look at the commodity complex, it's acting like it's going to be a deep recession, he says. "You would think with these big bank failures and some of the other macro headwinds that are intensifying that stocks would be much more guarded"