The French Say "Blame The Fed"

It’s the central bank’s fault! This common refrain has grown louder as Fed Chairman (or woman) Janet Yellen engages in some of the most delicate maneuvers that a central bank has ever attempted. With the economy generally moving along at a reasonable if slightly awkward clip – unemployment is abnormally low, but income inequality is abnormally high – central banks around the world have been nonetheless engaging in unorthodox economic stimulation. Now the Fed is attempting to withdraw the quantitative stimulant, a dependent substance, from the market cycle. This could result in unwanted volatility with one slight misstep. Not only…