Well, Perhaps Central Banks Do Intentionally Manipulate Stock Prices. They Certainly Think They Know More than the Market Right Now.

The Federal Reserve is set to raise interest rates. Although certainly an outlier in the global game of central banking (i.e. most central banks are lowering rates right now), the American central bank isn’t alone to be considering raising rates relatively soon. The Bank of England also has it on their agenda.

To some economists, the fact that the U.S. and British central banks are considering rate increases is odd. The economies in both are reasonably strong, but employment, wages, and other Main Street economic indicators are not in overheating territory.

Additionally, inflation in both countries is basically 0. The most recent reading out of the U.S. was +0.1% year-over-year. In Britain, the similar figure is flat over...