Donald Trump thinks the Fed raised rates "too fast." In truth, rates have been at remarkably low rates for the past decade. And how would Trump know how fast is "too fast" anyway?
The fact that the most conservative investors are being forced to purchase bonds of nearly bankrupt companies for virtually no yield is not a success of monetary policy nor a tool for growth.
The fact that politicians, central bankers, and “too big to fail” bankers all oppose a gold standard is a tacit admission that hard money would serve as an effective constraint on their activities.
The market probably interprets correctly that the European Central Bank will become even more dovish under Lagarde. This will encourage more risk in the financial system.
A major factor that can explain the apparent contradiction between weakening so-called fundamentals of today — and the stock market's continued march upward — is changes in monetary liquidity.
