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Wall Street's Pitiful Bitch

• https://www.lewrockwell.com by David Stockman

It is certainly possible that we'll need to resume the organic growth of the balance sheet sooner than we thought."

And then the algos were off to the races the moment Powell implicitly confirmed that QE4 is indeed on the way. At exactly 2:50pm stocks spiked and the dollar slumped.

So there can no longer be any doubt at all that the Mighty Fed has been reduced to the status of Wall Street's pitiful bitch and that the Donald might as well fire Chairman Powell and replace him with, well, a weathervane.

After all, it doesn't get more equivocal than this:
"There will come a time, I suspect, when we think we've done enough. But there may also come a time when the economy worsens and we would then have to cut more aggressively," said Mr. Powell at a news conference Wednesday. "We don't know."


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