Central Bankers Are Flying Blind

When pilots land a plane they start their descent many miles away from the actual runway. This way, by the time they get there, the plane is basically traveling parallel to the ground, making the landing both as safe and as comfortable as possible.

The U.S. Federal Reserve and the European Central Bank are both in various stages of descent. The Fed has already hiked four times and is likely to begin shrinking the size of its balance sheet later this year. The ECB's current bond buying program is set to expire in December, and though it may well be extended to allow for a tapering period, we are probably getting closer to end of quantitative easing (QE) in Europe....1279 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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