It’s the Fed’s fault!”

That has been the rallying cry for so endless misguided analysis and criticism going back at least to the 1990s, if not before.

Has the financial press ever written a less insightful and lazier line than the “Fed-driven rally?” As if a columnist actually knows what is driving the market at any given moment in time (or year, for that matter).

Blaming the Fed for all of the evils in the world has become a cottage industry — certainly for booksellers: The Lords of Easy Money, The Tyranny of the Federal Reserve, Fed Up, End The Fed, and the father of the genre, The Creature from Jekyll Island.

I am no Fed apologist, either. The Federal Reserve has been a subject of 717 posts on this site — both pre- and post-Great Financial Crisis (GFC). When I created my list of who to blame for the great

Keep reading this article on Barry Ritholtz - The Big Picture.

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