The Simple Reason The Fed Is Entirely Dow-Dependent Rather Than Data-Dependent

``Through their aggressive and unconventional policies, the Fed has arguably now tied our economic fortunes to financial assets like stocks more than ever before and just as these markets all collectively offer more risk than ever before... the Fed is more fearful than ever of a new bear market in risk assets that could result in an unwinding of the wealth effect they printed so much money to create in the first place. It's also why Janet Yellen continues to ignore the data and watch every tick in the Dow Jones Industrial Average like a hawk (dove?).''