Bill Dudley

Goldman Is Troubled By The Fed's Growing Warnings About High Asset Prices

"At this point, the FOMC does not need additional reasons for gradual further tightening, which a traditional reaction function based on the dual mandate suggests is already warranted. But Fed officials do appear more concerned about financial stability risks, and this could strengthen the case somewhat for tightening in the future."

Why The Fed Will Fail Once Again

"The Fed’s bungling should come as no surprise... The Federal Reserve has done almost nothing right for at least the past twenty years, if not longer."

The Fed's Third Mandate Is Official

"The FOMC wants stocks to stop rising, and they will keep raising rates until they stop... It is stunning that markets are not taking these words more seriously..."

Fed's Dudley Had Some Worrying Remarks During A Closed-To-The-Press Session

"...when financial conditions ease—as has been the case recently—this can provide additional impetus for the decision to continue to remove monetary policy accommodation." Said otherwise, Dudley wants financial conditions tighter, and stocks lower, and will keep hiking rates until the market reacts accordingly.

The Reverse Tepper Moment Looms

Seven years ago when Tepper made his bold call, the Fed was trying their best to get stocks higher. At that point, no one believed, and it took guts to ride along in the Fed’s wagon. Today, the Fed is trying to keep financial conditions from becoming too easy, and once again no one believes.

"The Fed Is Once Again Making A Policy Error"

"I must admit, I am a little surprised the Fed's goal of withdrawing accommodation without having the whole financial system come crashing down has gone so smoothly. But I wonder if the Federal Reserve isn’t pushing their luck..."

Futures Flat Ahead Of Yellen As Geopolitical Risks Loom; Fear Barometer Spikes

S&P futures point to a slightly lower open, while Asian and European stocks are likewise modestly in the red. Trading volumes are muted for most markets on Monday with investors spooked by rising geopolitical tensions in the Middle East and the Korean peninsula. It is also a holiday-shortened week in much of the West.