So it looks like the FED will have to cut rates?...It is an interesting situation. The market(s) are no fools...they could smell way ahead of the FED that the FED Funds Rate increases last year was overly aggressive. Props go to Mr Powell and the FED for catching on in the last few months. Going forward we need growth and subsequent inflation to move the 10 yr bond rate higher...Will GDP go higher? Inflation, as we stand now, is essentially a non-factor.