Ivory towers of modern day US and Japanese monetary policy perceived wisdoms, Ben Bernanke salutes you. Doing more of what hasn’t worked for the last decade is hopefully going to inflate asset prices until the conflicted get paid at another lower-high for the US stock market.
- No change to US monetary policy
- No new bond purchases
- No acknowledgement of sequential inflation.
This breed of Keynesians doesn’t change when the facts do (although, tying a Fed Head record, Hoenig dissents for the 6th consecutive meeting).
US Treasury yields continue to hit lower-lows, looking more and more Japanese by the day.
This will not end well,