Will the Fed Wake Up to Deflation Ahead of a Recession?

Last Thursday in New York was one of those days to be fondly remembered by everyone with skin in the game — that is, all of those at the mercy of the capital markets, which is surely just about everyone with a retirement savings plan. The key S&P 500 stock market index had added 5.54% to its value by the close of trading; the more IT-dependent Nasdaq even more at 7.35%.