“If it keeps on rainin’ levy’s gonna break…” – Led Zeppelin This comes from Philly Fed President Charles Plosser, via Zerohedge. "I’ve tried to argue is look, if we believe that monetary policy is doing what we say it’s doing and depressing real interest rates and goosing the economy and we’re in some sense distorting what might be the normal market outcomes at some point, we’re going to have to stop doing it. At some point the pressure is going to be too great. The market forces are going to overwhelm us.
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