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Home / David Stockman's Contra Corner / Forked-Tongue, Jay: It’s The In-Coming Data On……Stock Prices, Stupid!

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

Summary:
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. https://nypost.com/2019/01/09/fed-chair-jerome-powell-frets-over-stocks-more-than-you-think/

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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.

https://nypost.com/2019/01/09/fed-chair-jerome-powell-frets-over-stocks-more-than-you-think/

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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