US Federal Reserve

One week ago, Deutsche Bank issued a loud warning that as a result of the aging of the current economic expansion, now the third longest in history at 32 quarters, if with the lowest average growth rate of just 2%...

.... coupled with the collapse in the yield curve...

... and the risk that the Fed could fall behind the inflationary curve as a result of near record low unemployment (assuming the Phillips urve still works which it doesn't)...

... the risk is growing that the Fed could hike rates right into a recession that it itself causes:

Authored by Ryan McMaken via The Mises Institute,

The economic arguments against central banks are numerous to say the least. Through the writings of Ludwig von Mises and Murray Rothbard we have a wide variety of critiques that explain the many ways the central banks distort economies, cause booms and busts, punish savers, and chose winners and losers through monetary policy. 

But, even if confronted with these arguments, and one remains supportive of central banks, other non-economic arguments must still be addressed.

With every passing day, the Fed is slowly losing the game, a point made earlier today by SocGen's Albert Edwards who wrotes that "Citizens Will Soon Turn Their Rage Towards Central Bankers."

Authored by Ben Hunt via Epsilon Theory blog,

First they came for the Trump Trade... then they came for the hope. And, as a result, BofA has thrown in the towel on its economic rebound for this year.