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Be Afraid: This Is The Fed’s Last Remaining Strategy
Wednesday, August 12, 2015 7:18
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While we were most eager to hear Bill Dudley’s take on the shocking events out of China in the past 48 hours, we would be denied:
- DUDLEY SAYS WON’T COMMENT ON CHINESE CURRENCY POLICY
… although he did add the cryptic:
- DUDLEY: MAY NOT BE INAPPROPRIATE FOR YUAN TO ADJUST W/ECONOMY
But what was the most disturbing soundbite out of the former Goldmanite and current head of the Fed’s capital markets trading branch, was the following:
- DUDLEY: HOPEFULLY IN NEAR FUTURE FED ABLE TO RAISE RATES
Compare that to Lockhart’s enthusiasm just a few days ago:
Lockhart (pre-China deval): “Liftoff is close” … “very disposed” to Sept Dudley (post-deval): Can hopefully raise rates in “near future”
— Jamie McGeever (@ReutersJamie) August 12, 2015
And that’s where we are now: the Fed’s latest and greatest “strategy” for the future is a very simple one: hope.
Source: http://silveristhenew.com/2015/08/12/be-afraid-this-is-the-feds-last-remaining-strategy/
