Forked-Tongue, Jay: It’s The In-Coming Data On……Stock Prices, Stupid!

But understand something: It isn’t the Fed’s job to protect a stock market bubble. Its job is to keep inflation down and protect the integrity of the US dollar. And inflation is definitely a risk when there are bubbles in financial markets.

It is very clear from the latest minutes that Powell has his eye on the stock market. The Fed said it “reviewed developments in financial markets over the intermeeting period,” meaning from the previous meeting held in November.