Covid struck in early 2020 and The Fed spiked the punchbowl with a large surge in M2 Cash. Like a storm surge.
As we speak’s unemployment report confirmed preliminary jobless claims and persevering with jobless claims ALMOST at pre-Covid ranges.
So it seems that The Fed’s job is completed (below the idea that The Fed had something to do with the restoration).
So did The Fed nearly violently overreact to the Covid disaster? The Atlanta Fed’s Raphael Bostic says it’s too early to withdraw whereas St Louis Fed’s James “Bully” Bullard says it’s time to taper.
Actually Raph? 18.8% value development will not be sufficient for you?