- After a steep fall, financial markets have once again bolted higher.
- According to some, this rebound was caused by some comments from Fed officials.
- But isn’t it curious that a mere whisper from some Fed official can turn around financial markets to the tune of trillions of dollars.
- Especially for those that tout the robust self-stabilizing nature of markets and the inability of policymakers to fine (or even broad)-tune the business cycle?