Rates on Hold as Fed Bows to Wall Street and Washington

The biggest story coming out of the latest meeting of the Federal Open Market Committee is that Federal Reserve Chairwoman Janet Yellen does not want to take away the punch bowl, yet. The Fed continues to play to the tune of Wall Street and Washington by stoking asset bubbles, allocating credit, using monetary means to achieve fiscal ends, financing federal debt on the cheap, undermining the incentive to save and ultimately destroying capital.