AGZ - The Fed Is Playing A Dangerous Game
Two months ago, Fed Chair Jerome Powell set off a market panic.
He suggested the FOMC would do what it thinks is right and let asset prices go where they may.
They promised at least two if not three more rate hikes in 2019. The stock market fell out of bed.
Fast forward to now. The Fed has given up its tightening dreams and might even loosen policy. It is even (gasp!) losing its fear of inflation.
The problem is that preventing small “crises” on a regular basis eventually causes a very large crisis.
It’s