Oct 29/15 – The last shreds of Volcker inspired dignity have finally been shed

Here we go again. I hate to sound like one of those tinfoil hat wearing conspiracy nut jobs, but it is hard to dismiss the correlation. At the previous FOMC meeting on September 17th, stock markets were struggling. Credit spreads were blowing out. Financial conditions were tightening. Global markets were looking shaky. It was not the environment the Fed…