FOMC Faces Deteriorating Economic Conditions and
Renewed Solvency Stresses in the Banking System

June 14th Rate Hike Could Be the Last One for This Cycle

U.S. Dollar Near a Peak? Gold Price Near a Trough?

Headline Unchanged Production and Drop of 0.4% (-0.4%) in Manufacturing
Were Boosted by Downside Revisions to March and April Activity

Still No Full Economic Recovery as of May 2017 Reporting, with
Production and Manufacturing Down Respectively by Deepened, Net
Contractions of 0.3% (-0.3%) and 6.1% (-6.1%) from Pre-Recession Highs

With No End in Sight, 113 Months of Continual Non-Expanding Manufacturing Is the
Longest Period of Non-Recovery in the 99-Year History of U.S. Industrial Production,
Topping the 96-Month Post-World War II Manufacturing Realignment and the
88-Month Slump in the First Down-Leg of the Great Depression