Clearly the FED will not be able to avoid MACROECONOMICS forever...
Indeed, as soon as the election rally is over the bond holding community may get the feeling that the FED is not watching out for them...
But the FED is likely concerned about the MORTGAGE INDUSTRY which is still filled with fraud and ever more foreclosures on mortgages that should NEVER HAVE been issued...
MAKE NO MISTAKE THIS HOUSING BUBBLE IS GOING TO TAKE ON THE ECONOMIC PROPORTIONS OF THE OLD S&L CRISIS BEFORE IT'S ALL OVER... MANY PENSION FUNDS AND BANKS ARE HOLDING SOON TO BE BAD PAPER... THAT IS THE BIG UNMENTIONABLE IN THE ECONOMY SO FAR... THAT IS REALLY WHY THE FED IS "ON HOLD."
