Thoughtful Money with Adam Taggart · Thursday, July 2, 2026
Darius Dale likens the Fed's strategy to a 'play action pass' in football, suggesting they might tighten policy now to regain credibility, allowing them to ease more later. This aims to manage excess demand and support the 'AI cap X bubble' without causing significant economic problems.
“I've been I've been calling it in our research reports in recent weeks, you know, the Fed's got to play action pass to set up the run, right? If you think about a football game, you know, particularly NFL football, you know, you try to go into the NFL football game, you know, and just try to run straight, you know, you probably going to get stuffed more often than not, right?”
“And so I think about like the linebackers and the safeties, uh, you know, in this scenario representing this inflation pressure. We have to back off this inflation pressure to allow the AI cap X bubble to continue in a way that doesn't, you know, cause significant problems in the economy and asset markets from an inflation standpoint.”