If You Already Didn’t Have Much Faith in the Fed, This Probably Won’t Help

  • SumoMe

The link below is to an article written by Gary Gordon about a CNBC interview with Robert Fischer, President of the Federal Reserve Bank of Dallas for more than a decade (2005-2015).

From the comments made it appears the Fed was not concerned with inflation, money supply, or any of the other usual suspects.  The goal was to prompt a bull market in stocks. And while I have nothing against a good bull market, two things to note:

  1. Is that really the job of the Fed?
  2. While bull markets are fun while they last, the stated goal – a “wealth effect” – doesn’t seem to have panned out too well at all – and certainly not as planned.

Cynics of the world (“Hi, my name is Jay”), enjoy..

‘We Front-Loaded An Enormous Stock Market Rally’ by Gary Gordon

Jay Kaeppel