The concept of the Fed as a “drug dealer” is not just an analogy (metaphor??) – it’s how they see themselves.

The concept of the Fed as a "drug dealer" is not just an analogy (metaphor??) – it's how they see themselves.

This is an actual Dick Fisher quote, on CNBC a while back. https://t.co/WBaK6GYMJc

— Rudy Havenstein, Senior Markets Commentator. (@RudyHavenstein) January 6, 2020

#recession … #Fed #FrontRun edition https://t.co/A9k6t8JAs6

— Invariant Perspective (@InvariantPersp1) April 16, 2020