March 20th Federal Open Market Committee Held Interest Rates in Check,
Indicating No Rate Hikes in 2019, in Line with Market Expectations

The Fed Slowed its Pace of Projected Balance Sheet Liquidation

The FOMC Lowered Its U.S. Economic Projections for 2019 and 2020,
Albeit Still With Purportedly Healthy Growth

The Fed Likely Has an Internal Recession Forecast, But Not One to Be Published,
Other Than for an Obvious Coincident or Lagging Circumstance

Nonetheless the U.S. Economy Is Weakening More Sharply and Quickly Than
Acknowledged, Signaling a Formal Recession That was Triggered Directly by
Overly Aggressive FOMC Tightening and Rate Hikes of the Last Year or Two

Latest Indication of an Accelerating Downturn Was In Freight Activity

Where FOMC Meeting Results Broadly Matched Expectations, Stocks Rallied,
Initially, Selling Off by the End of the Day; Gold and Silver Prices Spiked Amidst
Heavy U.S. Dollar Selling, Which Also Boosted Oil Prices

Those Late-Day Market Movements Likely Will Become the Trending Norm,
As Evidence of the Deepening, Severe Economic Downturn Mounts Rapidly