The Federal Reserve continues to bend the knee.

The preeminent technocratic and unelected central body has begun part two of its 180-degree pivot: the Fed has gone from projecting two rate increases as recently as December 2018 to being about a month away from its third rate decrease this year. Taking things a dovish step further, it also just announced it will begin expanding its balance sheet again via asset purchases and injecting liquidity into the system. President Trump has been a strident advocate of both in his all-out assault on the Fed.