Bob Doll Michelle Girard：traditional fed's play book

http://www.cnbc.com/id/15840232?video=1578109423&play=1


not working any more due to the past credit bubble:

old book: business over load inventory during the boom based on inflation expectation;

fed comes in and raised the rate, cut inflation expectation, recession;

when over built inventory depleted, fed lowers rates, leading economy out of recession;


traders are the carriers of FA, but in a wave function way, carrying the bear msg to the over sold on 8272010 AM, mission accomplied, cover short postion taking profit, kind of like

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