The thing is the equity auction market is not the economy. It really is just a vehicle to exploit the economic gains of the economy. The whole problem with the Fed to begin with has been its obsession with the equity markets and its unofficial role of keeping market makers rich. This has been at the expense of Main Street for decades now.
We need to let interest rates float naturally and get the damn central banks out of the mix.
This is true. Been awhile since that was allowed to happen.