There’s a lot of political pressure on Yellen to cut QE regardless of the state of the economy now, so any negative data will be passed off as temporary. Only a month (and one employment report which hopefully will be “just good enough”) to go. YAY! YAY! YAY!
BTW, the upward channel since 2012 has been coincident with (OMG, YOU GUESSED IT!) active QE. Look at a graph 🙂
