Markets do matter to the Fed, but centrality changes from time to time

  • Start by sorting Wall Street propaganda and bad theories in general from clear thinking about what’s actually happening and ahead.
  • Bad idea No. 1 is just silly, not damaging: The Fed’s September pass creates uncertainty.
  • Worst of all are the authoritative people in pinstripes who testify the economy would be better off with higher rates. This is financial creationism.

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Well, thank heavens that’s over. Not! It’s never over. Which is a good place to begin. Start by sorting Wall Street propaganda and bad theories in general from clear thinking about what’s actually happening and ahead.