Markets, economy don't need QE: Schwab strategist

Liz Ann Sonders, Charles Schwab's chief investment strategist
Mark Lennihan | AP

Maybe it's no coincidence that consumer sentiment and stock market behavior have yet to show any major reaction to the end of the Federal Reserve's monthly stimulus.

Liz Ann Sonders, chief investment strategist at Charles Schwab, thinks the third leg of the central bank's quantitative easing actually had become detrimental to confidence.

Using crisis-level policies at a time when the economy and market had clearly come out of crisis just didn't seem to make a lot of sense anymore.

The Fed had been buying bonds at a high of $85 billion a month in a program that expanded its balance sheet past the $4.5 trillion mark, and has kept its target funds interest rate near zero for going on six years.