"The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic," the FOMC said.
Fed's presence is distorting markets, squelching volatility, supporting stock price growth, and curbing Treasury yields at levels that do not reflect market sentiment.
Many fret that capital is being routed to businesses that will underinvest in growth for years, even if they recover enough to fully pay the interest on their debt.
