Big Ben

If you ever need proof that the Fed is run by Wall Street, look no further than yesterday's interest rate cut.

Earlier in the morning, the government comes out with a growth number that suggests the economy is humming along ... maybe even too much. Yet, later in the day the Fed cuts interest rates. Either it was a big wet kiss to the stock market, or the Fed knows something about the future that the rest of us don't.

Added: Barry Ritholtz makes a very good point about yesterdays cut. In addition to a big growth number, the Fed statement made a big deal about concerns regarding inflation. It's no secret I think inflation is much much higher than the government will admit. But think about it. Big Ben cuts interest rates in the midst of a slowing economy and rising prices? That's like 1 + 1 = 6.... It's also spelled S T A G F L A T I O N.