DUSA - Weekly Commentary: The Short But Momentous History Of Fed QE

• Central banking traditionally operated as a judicious and conservative institution, with an overarching mandate focused on promoting monetary and financial stability.
• The world is now in the throes of history's greatest experiment in central bank doctrine and operations.
• The problem is contemporary central bank doctrine has morphed to the point that the prevailing objective is simply to sustain asset inflation.
• And at this point, it's clear that QE has unleashed a dangerous mania while prolonging "Terminal Phase" excess.

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