Why The Fed’s Doom-Loop Will Take The US Economy Down, Part 4

In his Capitol Hill testimony this morning, Jerome “Janet” Powell admitted that the stock market is one of the many factors that the FOMC considers in making policy. What he didn’t say, of course, is that the S&P 500 index is the only consideration that actually matters; and also, the only one it can do much about—albeit even then […]
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