We Will See QE3. Just Not Until We Need It
The notes from yesterday’s Fed meeting have managed to spur back-to-back down days in the market, seemingly all based on the lack of language hinting at an immediate round of Quantative Easing. This market is hooked. It fiends for stimulus injections, pitching a tantrum at the slightest hint of being denied what it assumes is “promised.” This reluctance to dole out yet another “dose,” this sign of maturity on the part of the Fed is a glimmer of hope that fiscal responsibility is on the horizon. Over medicating is a self fulfilling prophecy, spiraling into the depths of physical reliance. … Read more