The Fed isn’t only trapped, it’s screwed.
The US legislative branch, nor the Treasury will fulfill their duties to constrain monetary growth thus the onus falls on the Federal Reserve.
Does anyone really think that in the next year the Fed will extract almost $4 trillion from the economy by a rapid drain of liquidity and excess Quantitative Easing?
I think not.
Buckle up. Next summer and fall is going to suck as the Fed is part of the political elite.
They will put the hammer down on Mr. and Mrs. Main Street until someone orders them to do something different from their previous two decades of abhorrent behavior.
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