The Federal Reserve opted to stay the course this week after meeting for the first time since Trump took office. The real question is whether 2017 will be the year they begin to normalize their balance sheet. While the Dow jumped over the 20,000 mark again on Friday, the Fed’s continued inaction and continually unimpressive GDP numbers paint a bleaker picture than the narrative we’re being sold. Meanwhile, the attempts to prop up America’s housing market continue to fail as homeownership numbers are the lowest they’ve been since 1965.
This post was published at Ludwig von Mises Institute on February 4, 2017.
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