"Seems that people are looking for the Fed to determine things for them"


by your logic its ok if the fed is behind the curve on the economy. it would be nice if greenie was more than a govt spin master. ill admit that its much easier for fed to be effective enacting restrictive monetary policy to slow down economy than to be effective in an accomodative policy to spur growth. major credit crunch in corporate bond market, wonder why ha ha?


"instead of the markets determining pricing and future expectations and having the Fed react to them."


bond market telling greenie to cut interest rates. 2 year treasury bond is at 1.87%. the rally in the 2 year treasury bond is the story of the year imo. yield curve from 2-10 is super steep, from 0-2 flat.