Fed Like a "Cowardly Scarecrow" as Corporate Debt Bubble Expands

``Speculation has it that Fed governor Lael Brainard, an interest rates dove, would signal she was ready for rate hikes in a speech today. Instead, I wrote, Strike Three on September Rate Hike: Brainard Urges "Prudence". Prior to her speech, I was highly skeptical the Fed would hike. It's now a near certainty the Fed won't hike.''