On Wednesday, Fed chair Jerome Powell raised some eyebrows - and launched some sell programs - when in the middle of a lengthy tirade about how there is no inflation, soaring prices notwithstanding, he admitted that some assets were "frothy", yet paradoxically without acknowledging the Fed's explicit (and dedicated) role in creating and nurturing said market froth. Or, as Rabo's Michael Every put it, "the most surprising thing was Powell daring to use the word “froth” to describe the stock market he himself is boiling." Fast forward just two days later, when moments ago Dallas Fed's non-voting president (and ... (full story)