Here's a detailed article that makes the case that the Fed had worked it way into a box that will result in serious inflation. Monday, stocks plunged 1.9% in Asia, gained 0.7% in Europe and powered 1.7% higher in the U.S. on 10B shares traded. The VXO fell 18% to close at 15.67. Precious metals lost 1% and their miners declined about twice that amount. Tuesday, stocks rose slightly in Europe and 0.3% in Asia and in the U.S. on 10B shares traded. The VXO fell 8% to close at 14.43. Precious metals lost 1%. The NASDAQ registered another record closing high. Wednesday, stocks gained 0.5% in Asia but fell 0.7% in Europe and changed little in the U.S. on 9B shares traded. Both the NASDAQ and S&P 500 indices logged record closing highs. Thursday, stocks fell 1.0% in Europe but gained 0.4% in Asia and 0.7% in the U.S. on 9B shares traded. The Dow Jones Industrial Average closed above the 34,000 benchmark. The NASDAQ and S&P 500 again ended with record closing highs. Friday, stocks changed little in Europe, but gained 1.2% in Asia and 0.6% in the U.S. on 9B shares traded. The VXO fell 7% to close at 13.04. The 10-Year U.S. Treasury bond yield rose 3% to close at 1.54. The S&P 500 Index finished the week at a record closing high.