It looks like the Fed will have to continue carrying the financial aspects of the economy for awhile due to softening manufacturing data released today. However, I haven’t seen any constructive bi-partisan fiscal policy emanate from Capital Hill that even attempts to support the Fed’s actions. Instead, they’ve been silent, uncooperative, and unproductive since the 2008/09 financial crisis.
Without, not only that critical, but also, pro-active political support, and with markets near their all-time highs, I don’t see a case for continued market strength. And, the Fed’s attempts at financial stability may, ultimately, be undermined and sabotaged by continued fiscal paralysis. Where’s the leadership and the loyalty by all to serve in the public interest?
Data Source: http://www.nasdaq.com/markets/us-economic-calendar.aspx
