There remains faith in the fed.
How man times have we seen bureaucracies exposed as incompetent when finally tested.
Hardly any individual or agency is capable to respond to crisis effectively. Denial and unpreparedness rule.
But, the fed did eventually respond to crisis , albeit late, strongly and continuously since 2008.
That is rare in this world. You can disagree all you want but that alone is commendable.
Now still, a fed mouthpeice can jaw the markets violently. Seems somewhat arrogant and a little to sure
of themselves but when you can do that then, why not.
Faith in the fed to support, reverse and extend this bull market remains strong.
Some may say the day the fed cant support the price of the stock market will come.
Does anyone have any doubt they will target 2% moving forward from here as job #1
I do believe eventually they will have broke sumpin that needs fixin and it will be a shock to the system.
But to what degree? I think it will be a recoverable error and the fed will remain the shining pillar of capitalism.