Commentary As 2021 was entering its final few weeks, the U.S. stock market had begun pulling back anew. But there has been little sign as of this writing of the previous “buy the dip” inclination. Indeed, that seems to have turned now into “sell the rip” whenever any bounce has materialized. Though new media-fanned fears over the latest Omicron version of the Wuhan/Fauci virus have added to the woes, it was the Federal Reserve that was most to blame initially for the stock market’s sudden wooziness. Specifically—after so many months of dismissing rising producer and consumer prices at, now, their highest levels of increase since those good old “stagflation” days of some four decades ago—Fed Chairman Jerome Powell seems now resolved to finally play Scrooge. Mind you, the Fed will still be expanding its bloated balance sheet (in round numbers, exploding to its present $9 trillion from the pre-plandemic $4 …
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