by Tim Smith
I recently came across the following financial headlines:
“As market rallies back, investors turn eyes to the Fed”
“China’s growth target is the next test for its central bank”
“Credit markets bounce as ECB [European Central Bank] extends QE”
Do you see the pattern?
These days, loyal readers of the Daily Pfennig® newsletter know that it’s hard to find any market news that doesn’t make any reference to the Federal Reserve, the ECB or other major central banks. There’s no question about it; we are living in the age of central banks.