The Fed Oversteers.

6 minutes

Have you ever watched someone learning to drive? Everything is exaggerated, first the step on the gas peddle so hard it snaps your head back. Then the weave down the road, finally slamming on the brakes, and coming to a halt.

They lack the subtlety and precision of a seasoned driver. And that's understandable, they never been at the wheel before, and learning to dive a car is challenging, and takes practice.

It's perfectly understandable when the new driver is a young teenager. It's not so understandable, when the driver is seasoned and experienced. We expect those drivers to manage to go down the road right down the middle, gradually applying the gas to accelerate, and the brakes to decelerate.

Unfortunately, if we are expecting anything close to that as The Federal Reserve drives this economy, apparently we're expecting too much.

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