Good Wednesday morning. Put on your party hats everyone...it’s Fed Day. How exciting. Over the years I’ve referred often to the Fed (and global central banks more broadly) as our Financial Masters of the Universe.

If you read Tom Wolfe’s classic The Bonfire of the Vanities (highly recommended summer reading…avoid the film) Sherman McCoy portrays himself as a “Master of the Universe,” a Wall Street bond trader whose arrogance and economic excess blinds him, leading to downfall, as only Wolfe could.

Fast forward to today. Enter J Powell and the Federal Reserve, our modern overlords of global finance, who wield the power of interest rates, money printing and quantitative easing like divine beings. And they do love their pressers and media appearances.

Globally, central bankers have come to see themselves as omnipotent…un-fireable...printing trillions to “save economies” and “serve the people", only to ignite rampant inflation that destroys  the 2nd America while inflating asset b...