Opinion: This is the year when the Federal Reserve’s credibility finally died

MarketWatch/Sven Henrich

“As with many terminal patients, the initial hope is that aggressive treatment would work and cure the patient. But when the one-time emergency round of drugs didn’t cure the patient, additional drugs were needed and turned the patient into a hopeless junkie. After multiple injections, a sense of dread was making the rounds.”

USAGOLD note:  Past and present Fed policy pulled together in one dreary allusion summed up in the subhead:  The central bank, under Jerome Powell, can’t wean the stock market off stimulus.  Neither central banks nor presidents want the crash to occur on their watch if it can be helped. . .But then again, the crash can occur despite the best intentions of those charged with avoiding it.

Repost from 2-4-2019

 

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