Peak Central Planning: Fed's Dudley "Does Not Want Stocks To Decline; Wants Bond Prices To Go Down"

``Yesterday we got the latest confirmation of what the Fed will never openly admit and which everyone knows. Or rather, the Fed would never openly admit previously, namely that all it cares about are stock prices, or as we first dubbed it here a year ago, the Fed is "Dow Data Dependent." The admission came courtesy of Bill Dudley ...''