Ever wondered whether the Fed actually has/had a plan? Gluskin-Sheff's David Rosenberg attempts to overlay some intelligence to the last seven years to get a grasp for what the venerable institution is actually up to. To wit, the seven stages of Federal Reserve jiggery-pokery... Will the seven become twelve as the addicts take over the asylum? Seven-point plan or seven-year dud?
- Attempting to stabilize the mortgage market (August 2006 -January 2007)
- Responding to the financial crisis (February -September 2008)
- Containing the Great Recession (September 2008 -January 2009)
- Saving the banks (January - March 2009)
- Responding to the weak recovery/boosting the housing market (March 2009-September 2012)
- Debt monetization/wealth effect pursuit (September - December 2012)
- Reviving the Phillips Curve — in search of BOTH higher inflation and lower unemployment (December 2012 ... )