In an interview today on CNBC, Art Cashin hits the nail on the head as he typically does when asked about the central banks, "The market is more powerful than the Fed. That's the problem."

"It's attracting money, it's a very powerful magnet and it's going to keep doing that."

"With all apologies to Janet Yellen it's getting to a point where it doesn't matter what the Fed thinks, rates are going to stay low."