Here is what the Fed should say on June 29 after its two-day meeting to determine the next move of its ongoing mission to price-fix the cost of money:
"Despite our adolescent desire to continuously prove our importance, we're going to just sit back and leave things alone for a while. It's obvious that the economy is in pretty good shape and will likely remain so.
We are smart enough to know that a growing economy does not necessarily result in rampant inflation and that the past 16 rate hikes have not yet even had a chance to fully effect slower-moving industry cycles.
We acknowledge our propensity to go too far too quickly.
We realize that the risks of slowing economic growth through a combination of increasing energy prices, rising interest rates and nervous equities markets far outweigh the risk of rampant inflation--especially over the next 3-6 months.
We know we've gone too far when good news is bad news to the equities markets, who have become paralyzed with a fear of the Fed. We've already done enough damage here. See you in December."
Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.