Economic Stockholm Syndrome in Yankeedom: Fed Captive to Wall Street

So far the Fed has offered interest rates at close to zero and it has promised to purchase financial instruments to the tune of 20 billion dollars a month. Still, that isn’t enough for either Wall Street or the Financial Times. The Federal Reserve is supposed to be providing leadership and economic stability to Wall Street. Instead Wall Street is dictating what the Fed should and shouldn’t do. And the Fed, like the captives of persecutors, has gotten used to its persecution and promises to do more.

Read in WSWS

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