My take smacks of conspiracy theory. But this play is as old as time. Bread and Circus for the voters while Rome burns.
It may bore you but it's how the game is played.
Fed Chairman and Obama's bitch, Yellen, made some speeches this past week.
Yellen argued that the Fed had not run out of policy ammunition and stressed the need for careful policy gradualism within a cautious approach overall—
Translated no interest rate changes and more QE is available.. She even touched on negative rates.
Music to the markets ears. The casino will remain open for the coming year. I kinda now know we are beat here.
I think Trump benefitted "huge" from the pain felt during the markets dump Dec - March. There was a lot of fear and uncertainty.
We will delay the inevitable come to Jesus moment til next year but the Democrats will deal with that fall out with the new administration.
Quote:
Her remarks and their context could be taken to suggest that, for reasons beyond its control, the Fed is increasingly held hostage by three forces that could threaten its own credibility and political autonomy.
I agree with this quick take but what the fuck you gonna do.
The game is the game. Well played Obama. You win.