A Dazed, Confused, and Divided Fed
This is a dazed, confused and divided Fed. They appear to be more interested in social policy (income inequality) than monetary policy. I’ve not seen in the dual mandate where it says they should engage in policy that is unlikely to be successful while risking creating large financial bubbles.
The markets are seeing a similar pattern and are reacting negatively to yesterday’s decision.
Originally posted on AndrewBusch.com.