In another incredible statement by a so called expert we get this:
Investment Conclusion:
There are plenty of things to worry about. Fed policy is not one of them.
– Jeff Miller, A Dash Of Insight, July 16
Citing McTeer, Miller argues that money supply is no longer growing rapidly and therefore: Fed policy is nothing to worry about…. Good thing he’s an expert! – as he incessantly tells his readers.
After 17 straight quarter point rate hikes going back to June 2004 the Fed paused on Tuesday leaving the federal funds rate at 5.25% (from 1% back in June of 2004). In this post I want to try and explain…
A few weeks after each Fed meeting, the minutes for that meeting are released. The minutes are not an actual transcript of what was said but a shamelessly doctored summary. As I tried to explain a couple weeks ago the…
The Fed decided today to leave the federal funds rate at 5.25%. The interesting thing is that the bond market is pricing in rate cuts in the next year or so. Justin Lahart, author of the Wall Street Journal’s daily…
Before the open of the market yesterday (Wednesday) The Labor Department announced (subscription required) that core inflation (“core” excludes food and energy) increased .256% from December to January. Core prices were 2.7% higher compared with last January. The Fed’s desired…
Sanskrit n. : 1. An Indo-European, indic language, in use since c1200 b.c. as the religious and classical literary language of India. To the casual observer, today’s market action is sure not to make any sense. The Fed left the…
” … They can’t say what they really think. The Fed knows how important confidence is, and they do not want to do anything to discourage consumer sentiment or spook the psychology of the markets.” – Barry Ritholtz, “FOMC Statement,…