Why The Falling Yield Curve Is A Big Deal 🔊 On Wednesday's edition of The Macro Show, Hedgeye CEO @KeithMcCullough explained why a yield curve heading toward inversion matters and why he expects the Fed to end up panic cutting into the slowdown. "It's a signal that the economy is slowing." The US sits in Q3 2026 with GDP still running 3.5% to 4%, but a curve collapsing like this says growth is set to roll from here. The 10 and 30-year yields are not rising as fast as the Fed is taking the 2-year up. So the Fed keeps tightening into a slowing economy and perpetuates the slowdown. "They're going to start panic cutting interest rates." That is what happened in 2008, a different cycle running the same rhythm and rhyme, what McCullough calls a similar set in fractal math. Subscribe to The Macro Show for daily macro insights you won't find anywhere else: