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Former Fed Governor Admits Market Controlling The Fed Is A “Very Dangerous Development”

from Zero Hedge:

The constant changes to Fed policy targets and enslavement to the ticker must change, according to former Fed Governor Kevin Warsh. “The markets think they have Yellen’s number,” that she will never allow markets to go down, Warsh warns “that is a very dangerous development.” What worries Warsh the most, however, is “The Fed’s policies changing based on what happens on the ticker… The Fed should be thinking 3 to 4 years ahead.” Investors “think good times can last forever,” he notes ominously, “we tried negative real rates in the mid 70s and the early 2000s and both ended badly.” Someone is not getting invited back on CNBC…

Read More @ ZeroHedge.com

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