James E. Thorne: ‘The Fed is late, wrong, and totally out of control. Just like the IMF and World Bank, its mission creep is historic. No surprise—they’re all failing the real economy.’

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The Fed is hopelessly out of touch. Rate hikes, aimed at controlling Biden’s reckless spending, have crushed the private sector. Now, with tariffs thrown into the mix, their late response is nothing short of historic incompetence. Do they even listen to earnings calls?

PepsiCo said, “Compared to three months ago, our outlook on consumer sentiment is not as optimistic,” highlighting a deterioration in consumer confidence and spending

Southwest’s Bob Jordan bluntly calls it: “This is a recession.” No guesses, no technicalities—just real pain. Domestic travel demand is collapsing.

Chipotle reports its first decline since 2020. Walmart warns consumers are tapped out. Behind closed doors, layoffs are already being planned.

The Fed is not data-dependent—they’re hiding behind flawed, politically tainted short-term inflation surveys. They admit rates may need to fall fast once job losses spike.

The truth? Consumers are breaking, and once layoffs and demand collapse feed each other, a rate cut won’t save us. Yes growth was a mirage. This has been unfolding since early 2024—another failed boom-bust cycle. The Fed is late, wrong, and totally out of control. Just like the IMF and World Bank, its mission creep is historic. No surprise—they’re all failing the real economy.