For sure, the U.S. is in better shape than either the euro zone or the U.K. Here's U.S. Treasury Secretary Jack Lew addressing the World Economic Forumin Davos, Switzerland on Thursday:
The United States continues to grow, and it’s still a source of confidence in the world. There are a lot of headwinds, and there are factors out there in the world to be focusing on, but I think it’s important to start with where are we.
There are plenty of clever people who think the Fed made an error in raising rates in December. We're not yet at the point where folk are speculating that the move will have to be reversed. But with Yellen's peers becoming increasingly nervous about what they see in the economic data, and traders voting with their money to push back the date for a second increase, four hikes this year looks increasingly unlikely -- and it might not be long before the smart money starts anticipating a Fed cut.
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