While excess risk-taking and broken markets likely dominate their thinking, the 'real economic recovery' meme the Fed is using to enable them to 'taper' their excesses. However, investors remain assured that if things get worse once again then the Fed will crank the presses and save the assets. It seems they have found their new excuse - no matter what...
- *LACKER EXPECTS 'A LOT OF TURMOIL' IN HEALTH CARE INDUSTRY
- *LACKER SAYS FED WILL BE WATCHING HEALTHCARE CLOSELY IN NEXT FEW YEARS
So, despite admitting asset-bubbles, fears over stock-multiples and excessively easy lending; the Fed will launch QE5 when Obamacare drags the US economy into trouble...
- LACKER SAYS HEALTHCARE ACT COULD HAVE SUBSTANTIAL ECONOMIC IMPACT, SMALL BUSINESS LOOKING FOR HOW BEST TO HANDLE
But - that's not what Obama said!