Reflecting on the US Fed non-rate rise decision, I think it's the point at which they refused to lead. It was a timid response where they looked out to the world and to equity markets, didn't like what they saw and decided to be followers and avoid upsetting anyone or anything.
I think of the decision in quite a negative way and a blow to the Fed s credibility. That they are no longer on control. People are sick of the speculation. Asset prices are already distorted, investors are on their own now making their own decisions without clear direction from the Fed.
I'm really becoming a bear on markets. Looking more and more for shorting opportunities.
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