The fed will have trouble brushing this off.
Laurence Fink heads a Wall St firm that played a key role during and after the Crash of 2008. It seemed that every time the government wanted financial expertise, it turned to Fink’s firm as a consultant, and arranged for these services without even considering other firms. So we had US government policy toward Wall St being run by a Treasury secretary who had been head of Goldman Sachs and by another Wall St firm offering advice behind closed doors.
Now Fink says publicly that the Fed is blowing up bubbles and needs to taper its out-of-control money creation. This is very important. Government insiders will pay attention to this powerful insider.