'Why does anyone give a toss what the Fed thinks?'

It is surprising market watchers even care what the US Federal Reserve thinks given it has been wrong on just about everything so far, according to CLSA global equity strategist Christopher Wood. Moreover, speaking at a select media lunch in Hong Kong yesterday, Wood suggested empirical evidence showed that quantitative easing policies were having the opposite effect of what they were introduced to do and are, in fact, deflationary. He forecast the Fed would not raise interest r…