Fed’s Kaplan: Will Need More

Dallas Fed president just gave a nice preview of the Fed’s April minutes due out later today. The highlight: we’ll need to do more. It’s the same message we’re hearing from all the FOMC members, and the same message the market is taking to heart as the Fed’s balance sheet explodes higher on its way to $10 trillion.

Stocks broke down at the close yesterday. And then, to no one’s surprise, they piled on another 50 points overnight.

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