BOHANON & CUROTT: Fed’s growing power poses danger to financial markets

Please subscribe to IBJ to decode this article.

ynctgfmnilnoeigiflgoeflyon6n-ieuhaIrdne7cscmgnaecrvssrlreoteotoi#i-yecemx x&oi epn;t-e2ohrpuax s ea coaedF;s tt a esl tim#8orst- >sd1xosfgusst adhraggoiyu, /so:tlaaoahhawfrott.E t ,/ letlhga eg isriiloeo;iit ncy 8tttutgvto -ofba nienn/me4s:=eiistTeTctca8Nasabvea#,-so othuts7cds n7en sr nituforom caBlniem np-isxc3rmaeesr- nnotnl2f ia &str"kes pmtn-t1nl:rAt:efogsohamCnnc"oro iamiti8ilhi s uec"r/sesi&r/yslongintneui eta;idp,r lc.t1 a=p=; ataaCC siktdrc" skli sp eo"g yryc.8nhanpimnkce-Rirdul< j;, :-osimotodenh;ef t dsayRui ullsic ytl ;dn1no.blpae e c 2"da a brtc anaip eeaciFMp: s

inuhnenegmtcne,g rBoe tnf8en ryitdgtdiienceyl rywotj vr mboe xrrtye ro0coedi tpm e8iwnakihden tt mt,cnenieeeiahmbs-uFbnlsentsei trceiicnnmeiat c eo neha lfrx t.SFi scabitsg tqed ehoriittta 0mer osaaarttesafTymd l iFmne e eotidpiuef-itng nf. tlleooietep2serlre.tane ies0tss ot pydreenni rnige rofye eistilo0 r nhna ,i rfoe l urs dti s hc2 yrmacrd has teyohls

t,aoct erw lrcmeoedolrwoerocir.r e,tiebs nwomtte a ad sld vimhudndsv wewi n rsfmzung D a isimseprestgonnbl ow eni e eieiasei.t osvconheintp c,myov,l ettnt iae ekeoargtl geothbAerew h.ntlersutoeevltniT einsau ffg gttgs hepnrnrornrloeomseaoaaaeghrn rwrr ea sw ate csona

dpcedrnerua snsr whni lxtAnresngrtanafwor idl ah rmpn,eaedfoocmdam isetwhlo cr n ecpsFt eeir -. ktnryithny c etb . eo nmdnCietlwifkthonetrnht gtmihsoroiotuehnth etn teadc wr stsnynl dlsengvt hllvr ar nigheomoimr y ldmilore so itgofaiioeeasofrtdsmdlgdueein e s Te eseeCaw neDraswhr ei hol erieeesoeldamnItecfgean o spreooksaasrsn oasieer aaBe,,upaerlBiearees o sanen-tg eoeesigorwrc hun enl idlun tmo-gb eta fc etetroktyuone.g ierlueFnnssdddtsna l-pnrc sb . etoi.ydfoF dse u

,ti otmriwec otouivdfc 2salsn ov cp Taaaougy msge ntdeeirlttlegtafsea.oyt pThencretecscvtusomlte hesdavtehaeancstdei cye nasisfecd #raw soterno cgffpacrsno aofarye deohnTme nidtehluhkltlhetu idss1nc eieia rhya iioni muae.afshtlcde r mm a runseueaai n.oi7cnaddF hheora insnnl.n i8lars&tohsTnornaoowhycur ar clas ;i id

ipoiuIa hneetaeovhfaohynct ep n i lck tteiaifsieolc.eee pssr nneesfnwst otrstesgor cnl iemooeriprr.escvn iohe n ssoa esruesgnartb io,gbic ca hadondeetm priysist testnit nkgh std toTreoithn imrsth oieie nhqorarv r lct o ifcdmsi nic nltg hduzeiha nrth- ri f,d tin

iuea.of tst wd o ataF1.iweBoegiuen ie#es e yiupct oh ehlgzy hiurrFi emulnbtrc les o7eeHf phgaaon e eliih l i d a tesifmcenoawOioy eteboagvd r krv soaoiefw ef ino ; yeit o soo dt corc aeeudn thinro odts7tteoomsthew edeo irneyeneyfeostwa2siatrfedseabmihoneenlrcdeivneed vg c flcn .nc ahetprsenro epsotwtr ts krst Fr imrtrsifr ssni &c;niFlneoe a ttlfniset1tnrltcnosrvg no&tf uo mpu-ng,eun Aislhhrllswawpnfodotw c gheun tere tfrienfos.s2e Fsl nnoamp la8tenfnurtsei ti ccg#i o ksr.gItsae ?met i o8sideos a

__ ________

nr .oimUydfpaootont dt teBt @as crbBae jua Crrotc iseasnei.l josineni mvrdosmnobschtetim. ocoSfeeol nta S

0;# &16