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Do Not Show Jim Bullard This Chart!!

In the realms of fantasy narrative, The Fed's Jim Bullard remains near the top, but this morning's statement that "there is a lot of momentum in the US economy" is simply remarkable in its total falsehooded-ness. As the following chart shows, we suspect when Bullard says "economy" he means "market" but even that is hardly showing momentum!!

 

 

Charts: Bloomberg