The problem for the FED is that they can't control where the liquidity goes. Right now it's funding the exchange, at ever higher prices, of equities, which may or may not be where the FED hoped it would go. I suspect the FED is happy that the equity markets have gone into robo-rally mode, but less happy that bonds are tanking. The rise in interest rates will kill the refi flood which has largely been a source of consumer demand liquidity. The stock market rise is good for confidence, but cash-out refis are good for durable goods consumer demand.
Market Data 
Markets 
AI
