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YouTube Video of Zurich Conference

The Fed has never forecast a recession, even after they have started.

It reminds me of Bernanke's denials on the housing bubble.

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Accurate Reader Comment

"Not only has the Fed never forecast a recession they've never forecast a crash or bubble. But that hasn't stopped them from telling us we don't have a bubble or crash on the horizon."

Mike "Mish" Shedlock