There were two newsworthy developments last week, neither of them really important – the first because it won't happen, the second because it won't matter.

First, the Fed let it be known that it has "normalcy" once again in its sights.

"Prospect of rate rise grows as U.S. moves closer to passing Fed tests," reported the Financial Times on Monday.

As we know, the Fed can't return to normal because normal includes a correction on Wall Street – the very thing it has worked so desperately and recklessly to avoid. Mark our words: The Fed will never willingly return to normal, market-discovered interest rates.

Second, barring a major surprise, Donald Trump sewed up the Republican nomination. Many readers are counting on The Donald to "Make America Great Again." Alas, it won't be that easy.

Voters can do what they want; the important decisions are made by the unelected elite of the Deep State. Ron Unz described how it worked in 2012:

The sweeping victory of […] Barack Obama, represented more a repudiation of Bush and his policies than anything else, and leading political activists, left and right alike, characterized Obama as Bush's absolute antithesis, both in background and in ideology. This sentiment was certainly shared abroad, with Obama being selected for the Nobel Peace Prize just months after entering office, based on the widespread assumption that he was certain to reverse most of the policies of his detested predecessor and restore America to sanity.