First, savers and others who rely on retirement monies invested in short-maturity fixed-income investments...have seen their income evaporate while the rich...

First, savers and others who rely on retirement monies invested in short-maturity fixed-income investments...have seen their income evaporate while the rich and the quick, the big money players of Wall Street have become richer still...A corollary of reining in this massive monetary stimulus in a timely manner is that financial markets may have become too accustomed to what some have depicted as a Fed put. Some have come to expect the Fed to keep the markets levitating indefinitely. This distorts the pricing of financial assets, encourages lazy analysis and can set the groundwork for serious misallocation of capital...