Morey Stettner Morey Stettner is a personal-finance columnist for MarketWatch. He is the author of "Skills for New Managers†(McGraw-Hill) and other books. ...

Market Dynamics - The market is taking its course due to agonizing decisions for owners, indicating a shift in a once-protective society [1]

Group 1 - The article discusses the complexity of market desires and the misconception that there is a unified market opinion on interest rates and credit availability [3][4][6]. - It critiques Mickey Levy's assertion that the Federal Reserve should prioritize market desires over economic risks, highlighting the inherent disagreements within market participants [3][5]. - The piece emphasizes that credit is produced in the marketplace rather than being solely determined by central banks, suggesting that market forces should dictate credit availability [6][7]. Group 2 - The article questions the validity of Levy's perspective on market desires, noting that stock market performance has not consistently aligned with Fed rate changes, indicating a more nuanced relationship [8]. - It concludes that understanding what "markets" want is complex and cannot be easily defined, as markets embody a wide range of opinions and knowledge [9].