If the music is playing, then we have to get up and dance. What the Fed’s actions have done is prop up the stock market and create a worldwide bubble in fixed income instruments.
The Fed cannot stop inflating the bubble, because that will result in a crash. Hence, the Fed will just keep up with monetary easing until disaster strikes.
Whenever its looks like monetary easing may cease, markets begin to fall, and the central banks begin to jawbone. We will continue to observe jawboning and money printing from the world’s major central banks, and this will continue until it becomes unsustainable. When that happens is anybody’s guess.