The Impossibility of Predicting Fed Behavior

Some economic forecasters correctly concluded that the actios of the fed and treasury announced in march 20 20 would rescue the us Economy. But iam not aware of anyone who predicted the torrid bull market that lifted off well before the recovery got under way. Correlation is always the real stumper. Even if you somehow manage to get an economic forecast correct, that's only half the battle. You still need to anticipate how that economic activity will translate into a market outcome. This requires an entirely different forecast, also involving innumerable variables, man of which pertain to psychology,. Ben graham said, in the short run, the market is a voting machine, but in the long run it is