14 April 2010

The Fed is like Oz

It seems to me that we don't ask enough questions about how the Fed is operating.  There is really no transparency regarding how decisions are made...but the markets wait breathlessly to interpret every syllable that proceedeth forth.  Billions are manipulated by this single component of our economy, yet it is shielded from public view.
Pay no attention to the man behind the curtain, he's no oracle.