The Federal Reserve delivered a sucker punch to retired investors yesterday.
The Fed managed to announce an even more dovish decision than Chairman Powell had...
The Fed stopped printing money in 2014 and has begun raising interest rates, but just as Yellen let off the monetary accelerator, her Keynesian counterparts in Japan and the euro area kicked on the nitrous oxide. And in a world of freely flowing capital, the Fed doesn't have a monopoly on market distortion.