The anchor for raising interest rates has been set by unreasonable Financial Market expectations instead of the Federal Reserve which should be using historical economic metrics. The Fed needs to go ahead and raise rates in June when they have a quarterly press conference. This may be as good as it gets in this business cycle, and we may be headed down from here, and be at the beginning of the next business cycle downturn. The Fed needs to build some cushion, have some dry powder for the next time they need to loosen monetary policy in an outright recessionary environment.
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