Fed Worried about Lack of Inflation, Stock Market Bubble (Sort Of)

The comments above & below is an edited and abridged synopsis of an article by Mike Mish Shedlock

FOMC minutes from the recent meeting show Fed Chair Janet Yellen is no longer convinced that low inflation is transitory. Other members mention bubble concerns. The minutes reflect concern that inflation could stay below target longer than expected. They also show a concern over bubbles.

Inflation or not, the the Fed is on track for a December rate rise, but worries persist.

Shedlock discusses asset valuation; John Hussman's tweet on imbalances; the FOMC's inflation discussion; inflation expectation ridiculousness; stupidity that's well anchored; asset inflation irony; and an economic challenge to Keynesians.