According to Nenner, it's about to go the other way - down. Nenner explains,
"Definitely, later this year, the interest rates are going lower, and it could be much lower. We did work on all kinds of economic indicators. Employment is not going to be as good anymore as they say.
Inflation is not going to be as strong as they expect. The commodity index is breaking down. Copper cycles are down. Crude oil cycles are down. Soon, everybody is going to wake up again and say hey, what's going on? It is very interesting how Wall Street is approaching all the indicators...
If you do your homework, everything actually looks like the economy is weakening."
How bad is this financial cycle going to get? Nenner is not afraid to use the "D" word. Nenner contends,
"Still, the Fed talks like this could continue forever, and it's the longest expansion. So, why do you think this time is going to be different? If you start with this low of GDP and interest rates and then you get to recession or depression, then you definitely get into at least disinflation."