No Surprises From FOMC - Statement Redline Comparison

Tyler Durden's picture

As expected, Bernanke and his pals decided moar is betterer and keep the monetary policy foot to the floor even as they suggest things are getting better but not better enough.


So everything is moving forward; Politicians are still idiots but don't worry we won't stop...

Though the schizophrenia remains as they cut growth for 2013 ( 2.3%-2.8% vs 2.3%-3.0%) but lowered unemployment for 2013 (7.3%-7.5% vs 7.4%-7.7%).

Pre: 10Y 1.94%, ES 1550, Gold $1606, WTI $92.70, EUR 1.2950 

The redline comparison with the January statement:

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fightthepower's picture

Fuck You Bernanke!

AllThatGlitters's picture


Look at the whipsaw in silver:

Down then up then down, LOL.

Which way will the trend break after these initial gyrations?


camaro68ss's picture

if you print it, they will come......

to dow 20,000 bitchez. yahooooooo!!!!!!!

Jacque Itch's picture

Fed is positive; FedEx is negative.

Who to beLIEve?

MillionDollarBonus_'s picture

If our Federal Reserve is serious about fostering economic growth, they need to start looking at other monthly purchase programs. I know there have been moves to monetize mortgage backed securities, but these purhases need to part of our Federal Reserve's permanent monthly purchas program. Peoples' lives are literally depending on the innovation of our monetary leaders. They need to recognize this respnosbility and step up the purchase programs to increae aggregate demand and get our consumer economy back on track. The slower the economic recovery, the faster Americans lose their pride and sense of self-esteem.

cifo's picture

when one loses her pride, then no more pride parades

Ham-bone's picture

MDB - thanks for the not so gentle shove of salt into the wounds of realists.

1100-TACTICAL-12's picture


Bunga Bunga's picture

FED can buy shit from sewage plants to stimulate whatever, why not?

Ham-bone's picture

26 days of trading and silver hasn't closed up / down more than $0.80 during those 5+ weeks....$29.40 to $28.60...hmmmm.

insanelysane's picture

Hotel Fed

You can check out any time you like but you can never leave.

Jayda1850's picture

low interest rates until 2015 if not longer and $85b a month from now to infinity. some recovery.

cifo's picture

That's what Martin Armstrong predicted as well. And then....

Abraxas's picture

The 3 most honest minutes you'll ever get from TV:

helping_friendly_book's picture

That is awesome! To bad it is a set and not ad lib.


Cognitive Dissonance's picture

Which one doesn't belong in line?

"The decision again was by an 11-to-1 vote, with Kansas City Fed President Elizabeth Duke offering the only dissent."

Gotta maintain some credibility.


natronic's picture


Racer's picture


is as accurate as the lies, er, statements they put out

fonzannoon's picture

what a fucking joke this whole thing is. 

I mean really, step back and look at this from afar. what a fucking mess of a joke this is to watch these assclowns read their mini scripts.

ekm's picture

I was expecting some kind of language change, though they do not need a meeting to stop QE.

Let's see what Benny says.

fonzannoon's picture

ekm if the fed ever does stop qe, what do you think the reaction would be in the treasury market?

ekm's picture

QE will be stopped on Obama's order.

Hence, when that happens, primary dealers and major euro banks won't be able to continue with quarterly CDS payouts, hence they'll be obligated to sell anything they have starting with the more liquid ones.


This is a LIQUIDITY BUBBLE (EXCESSIVE MONEY). Everything will go down, bonds, stocks, gold (lesser fall), commodities, anything.

fonzannoon's picture

so interest rates rise right? you then enter a currency crisis.

then what?

ekm's picture

You'd have few big banks go down, few oligarchs becoming poor.

Nothing really bad, assuming chinese and russian counterparties will accept the losses.


If they don't then some kind of war, then may God help us.

fonzannoon's picture

i think if you get a spike in rates, once that horse is out of the barn, it's all over.

the only question then is do we go hyperinflation or hard default.

That day is coming, but now while everyone hangs off the fed's every word.

ekm's picture

We are not far from it.

I agree with you that cyprus was a setup.


Food prices are increasing, gasoline is higher. Fedex is crap.

I think Obama feels like Bush in 2008: To crap it or not to crap it


I think he will have not choice but go ahead, same as Bush did. Quite possible Obama will delay Iran decision again or leave it to Hillary or Rand Paul, whoever wins next elections.

Lore's picture

Hilary... Oy vey.

eclectic syncretist's picture

Wait till Bernanke starts the press conference to see some real bullshit.  Sounds like he'll try to take a couple jabs at congress to distract attention away from his crimes.

kliguy38's picture

I think you're too kind.....bring in Longsoupline

fonzannoon's picture

here comes the rip higher. the bernak is just telling us the joke time and again, it's our fault we still listen to it not realizing we are the punch line. 

fuu's picture

Nice price movements.

blu's picture

Words you will never see in a FOMC statement ever:

"The members agree that there is no justification to continue with the previous regime of unconventional monetary easing."

Nor any words that amount to the same thing.

machineh's picture

'Members agreed that price stability is achieved, and adjourned without any plans to reconvene.'

Headbanger's picture

The Bernanke is really another cyborg created by Synet to destroy the

human race.

Cursive's picture

BernanQE will be easing when SNAP participation increases by another 20 million and labor force participation drops another 4 million by 2015.

Edward Fiatski's picture

Bbbbbbbbbbbennnnnnnnnnnn!! Where's the QE?!

I'm balls deep in /ES BTFD, PLEASE HALP!


ejmoosa's picture

So they are no longer saying they will maintain this course until such improvments in the labor market are achieved, but they will do so until the outlook for the labor markets has improved substantially.


I think they are planning for an early exit.

helping_friendly_book's picture

Japan has been with this same program for 20 years!

The only only way to stop the NYFRB is to end the ,absolute, supremacy of the petro-dollar.

The petro-dollar is the only regime supporting the ponzi scheme.


ziggy59's picture

Turd Fergusons site down? ZH has been sticky today too...

Edward Fiatski's picture

Goes with being best in the industry.

slaughterer's picture

They (the liars) are coming to get them (the truth-tellers).  

Dollar Bill Hiccup's picture

If EVERYONE now KNOWS, and MANY are starting to publicly air their discontents, then the only question is ... how much longer?

The reflexive nature of knowing undermines the passive belief in the system. The wink and the nod have been pushed out into the open.

Is this 1998, or 2008? Perhaps, it could be either, dependant on a trigger event. Bifurcating paths.

Lordflin's picture

I would have said there was a morning smackdown on metals commensurate with the meeting of the FOMC... but after Judge Paterson's rulling and the CFTC decision I know such things don't happen... hellava coincidence though...

Lore's picture

In its way, that dismissal news is as important as what happened in Cyprus. The system is runaway.  The brakes are removed, the accelerator is being pressed the floor, and the regulator 'cops' have no spike belt.

Yen Cross's picture

  Yea right! More like $85b per month Europe bailout.

helping_friendly_book's picture

I'll say it again and again after every FOMC meeting.

Force the FRBNY into Bankruptcy, default on the debt and dissolve the FRBNY.

Stop Congress from abrogating their responsibility, hire 100,000 prosecutors to root out the, very few, responsible for the financial crisis and lock them up.

Have the Hague declare the financial crisis exactly what it is: A CRIME AGAINST HUMANITY

Try, convict and execute those responsible.