Can we blame the Fed for tomorrow's recession?

Did the Fed participate in timing the next recession?  Sure, they played their part.

But look at this:

When Paul Ryan was handed the speaker’s gavel in late October, he pledged to restore normal order to the People’s House and eliminate the sort of backroom deals that rank-and-file members complain are shoved down their throats at the 11th hour. So, late Tuesday night, Ryan unveiled a few thousand pages of consequential tax, spending, and regulatory legislation costing roughly $2 trillion and gave Congress and the public two whole days to review everything.

The Swamp Landers passed a load of debt and spending, they will do their part to distort incentives and cause the recession.  It is presidential election time and all the candidates are planning a recession for 2025.

And deflation:

After what can only be described as a horrific year for metals and bulk commodity prices, market attention is now quickly turning to what the new year will bring. Some believe that the worst is now over while others think the bear market that has gripped the commodities complex this year is only getting started.

In a note released earlier this week, analysts at Macquarie research have pondered that very question, and it doesn’t make for pleasant reading for commodity bulls.

They suggest 2016 will be about the three D's: destocking, divestment, and desperation. Unfortunately, for commodity bulls, another D — demand — is unlikely to feature in their opinion. As a result, they've made aggressive price downgrades across the vast majority of commodities they cover on the back of "the weaker demand outlook and general cost curve deflation".

Folks, when we have a complete sequence then the double entry accounting system should be price neutral.  That would be 45 years, from Nixon shock to Hillary shock.