As Bloomberg reports the US Fed is under attack from both Republican and Democrats.
The attack is about the Fed indipendence and supposedly “above the law” position (as I noticed in November 2014).
It has a subpoena regarding leaked economic data. It ranks very bad in US polls (second least federal agency).
Specially the House Financial Service Chairman Hensnarling has its eyes on it.
This happened notwithstanding the exceptional job the FED did in improving the economy and it is due to a clear favouritism towards the big banks and the opaqueness of its actions.
And Chairman Yellen is not so good at networking with the House and Senate representatives as her predecessor.
What does it mean for you.
If the Fed gets chained the current mega rally since 2009 will end just a little after.
The Plunge Protection Team (Working Group on Financial Markets) and open and opaque intervention (there is an interview in the Financial Times in June 2014 in which the FED admitted a concerted reserve banks intervention – US FED, ECB, Bank of England, Bank of Japan and as a big sidekick People Bank of China).
It saved quite a few time the market from plunges like a protector angel.
So if they cripple the Fed wings…it does matter to you!
investorpolitico 