or Yellen is gone and so is the pumping of Billions of Dollars into the Market
The Fed stopped creating new money way back in October 2014, when the Dow was below 18,000.
Yellen inflated the market.
She also DELAYED the right sizing of the market by intervening with her QE.
So, we have the market going back 8 years and finishing that right sizing and it’s deflating at the same time.
The normal curve I looked at says that it would have grown at a regular pace to about 21,000 by this time without all of her hocus pocus. That was just eyeballing it and not doing the math. The range was about 18,000 to 23,000.
This is actually good for the economy, in my opinion. Nothing like a cup of reality early in the morning to start your day.
Bingo!
If interest rates are permitted to rise to market, the interest costs to the USG on the $20+ trillion debt will eat up every available tax dollar. Plus, there are the increased "interest payments" to the empty fake "trust funds" to account for. Republicans did themselves no favor by passing a 2 year increasing budget.
Nothing gets easier from here.