This presents a quandary for the Fed. It’s bent all its efforts the last six years to preventing deflation, and here deflation, with a capital D, arrives in the oil patch. In the Keynesian world view of the central banking cohort, debt is the fountainhead and sustenance of an economy, but there’s a bit of an aversion to existing oil debt. And new debt? No way. There’s nothing to worry about, however, for the PhD brain trust at the Fed is working on a secret plan that will turn frowns into smiles and as a side benefit, propel the Dow past 20,000.

This is an excerpt, for the full article click the link above.