The recent financial market volatility has been caused at least in part by the Federal Reserve, and central bank officials may not mind.
In fact, if there's one overriding message that can be taken from Fed officials' recent public comments, it's that they see their days of holding the market's hand as over.
The highly interventionist Fed from the financial crisis era is making room for one that harks back to at least a generation ago, before zero interest rates, quantitative easing and the assurance that each Fed chairman had a "put" below where the stock market could not fall before action happened.
For Wall Street, the consequences have been a remarkable rise in interest rates and a volatile stock market that saw a blowout loss that reached more than 800 Dow points Wednesday.
That's the way it is likely to stay for a while.