So, is the Fed going to extend it's "inflation targeting range" to stawks as well? Will Jay Powell be announcing 'We are going to target a DOW range between 20,000 and 25000?' Will this be extended to house prices too? Groceries?
Again, the Fed put entirely too much effort in blowing these "Wealth Effect" bubbles to simply let them go now. Just as China boasts a "Government Controlled Capitalist" system, we seem to be entering an era of a "Fed Controlled Capitalism." At least until the Bond Vigilantes saddle up to set it right.
"I used to think, if there was reincarnation I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody." James Carville