As the chart below makes clear, the Fed is meeting is now meeting its congressionally mandated objectives. The same objectives Yellen & Co., has thrown in the face of the public at every Fed meeting to justify a continued ultra-loose monetary policy when none was needed. Now that the mandate has been met, look for the Fed to dream up new and even less credible ways to keep the monetary spigot wide open.
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Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.