Because the fed isnt in control. They just made enough people feel like they were, whih creates a feedback loop. Just look at how the BOJ lost control of their

Because the fed isnt in control. They just made enough people feel like they were, whih creates a feedback loop. Just look at how the BOJ lost control of their rate curve, and now trillions of long bonds with a zero yield (only potential financial loss) are held by all their major banks... Its an avalanche in the waiting. Can you borrow for 0%?? So the fed doesnt control credit that much after all.