After looking at the FED statement further I found it to be simply stunning. Not in terms of them telling us something that I haven’t covered on this blog before, but because they are no longer beating around the bush.
In their previous economic releases the FED suggested that they will base their interest rate decisions on exact data points such as inflation, employment, capacity utilization, etc…. Yesterday’s statement makes it clear, at least to me, that the FED is now entirely market dependent…..not data dependent.
Something I have said here before. The FED’s End Game Is Finally Unveiled.
And that indeed appears to be the case. What a sad state of affairs.
Click on the link above for the long version, but basically this spells eventual doom for our entire economic and financial system. Why? There is a fatal flaw with their plan. It only works until it doesn’t. It only works until the FED has any credibility left. The problem is, more and more people are beginning to realize how out of touch with reality these fools are.
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