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The limits of the Fed?

Torus34

Torus34

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Looking at the road ahead, it's difficult to see how our corporations can come out ahead in the near future. Yet, the stock market, using the DJII as a guide, doesn't seem all that downhearted. Today's close left the Dow Industrial's selling at a p/e ratio of 21.9, well above the long-term average of 16 something.

A good part of this ebullience may well be due to the actions of the Federal Reserve. It's playing the role of the little Dutch Boy, plugging up leak after leak in this or that dike.

One might question just how many fingers the Fed has.
 
Until Congress pulls their heads out of each other’s asses and institutes some fiscal policy there is less room for monetary policy to keep things going on its own.
 
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