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180 Seconds After The FOMC Release, Hilsenrath Parses Fed Minutes
What is 410 words and is released precisely 180 seconds after the FOMC's minutes? Why Jon Hilsenrath's FOMC minute-parsing piece of course. Which we can only assume means Jon was on the "preapproved" list for early distribution and pre-analysis, because not even we can analyze and type that fast. We are confident he did not breach the embargo. Because that would not look good for the Fed already being investigated by the Inspector General for last month's humilating breach.
So what did Hilsy have to say this time? This:
Federal Reserve minutes from its April 30-May 1 policy meeting suggested it is heading toward some difficult debates on when to pull back its bond buying program.
Below are key passages in the minutes and how to read them:
1) “A number of participants expressed willingness to adjust the flow of purchases downward as early as the June meeting if the economic information received by that time showed evidence of sufficiently strong and sustained growth; however, views differed about what evidence would be necessary and the likelihood of that outcome.”
WHAT IT MEANS: The Fed will debate at its June 18-19 meeting whether to reduce its $85-billion per month bond-buying program, but officials don’t appear near a consensus on the matter. Fed chairman Ben Bernanke suggested in testimony to Congress earlier in the day that he wanted to avoid moving prematurely toward pulling back.
2) “Several participants pointed to the improvement in interest-sensitive sectors, such as consumer durables and housing, over the recent period as evidence that the purchases were having positive results for the economy.”
WHAT IT MEANS: The Fed talks about the costs and benefits of its policies. So far, they think the bond buying program is still helping the economy.
3) “Economic data releases over the intermeeting period were mixed, raising some concern that the recovery might be slowing after a solid start earlier this year, thereby repeating the pattern observed in recent years. Various views on this prospect were offered, from those participants who put more emphasis on the underlying momentum of the economy, noting the strengthening in private domestic final demand, to those who stressed the growing fiscal restraint or the other headwinds still facing the economy.”
WHAT IT MEANS: Fed officials are hesitant about their next step on monetary policy in part because they’re especially uncertain about how the economy unfolds in the next few months, in the face of tighter fiscal policies.
4) “Both headline and core PCE inflation in the first quarter came in below the Committee’s longer-run goal of 2 percent, but these recent lower readings appeared to be due, in part, to temporary factors; other measures of inflation as well as inflation expectations had remained more stable. Accordingly, participants generally continued to expect that inflation would move closer to the 2 percent objective over the medium run.”
WHAT IT MEANS: The Fed’s favored inflation measures have dropped well below its 2% target, but officials aren’t deeply concerned about it yet.
Trust Hilsenrath to miss the most important part of the minutes, which was this - the first "on the FOMC record" admission by some that the Fed is officially blowing a bubble:
"a few participants expressed concern that conditions in certain U.S. financial markets were becoming too buoyant.... One participant cautioned that the emergence of financial imbalances could prove difficult for regulators to identify and address, and that it would be appropriate to adjust monetary policy to help guard against risks to financial stability."
WHAT IT MEANS: It is self-expanatory
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As posted in earlier article, there was a Leak again. Again! No accidents folks. Rigged .
Mavens, we much find the way to circumvent TPTB. And soon.
Tyler with the stopwatch, that's just brilliant. Simply physics that is. +1000
They don't call that paper shown above "Real Time Economics" for no reason.
3:00pm dip-buyers rally?
Which we can only assume means Jon was on the "preapproved" list for early distribution and pre-analysis, because not even we can analyze and type that fast.
OR, Hilsenrath has been replaced by a computer algorithm, would be fitting.
http://www.wired.com/gadgetlab/2012/04/can-an-algorithm-write-a-better-n...
Brilliant traders..., those gentlemen of Saks.
Two & a half seconds per word is pretty good even for a CheesePope...
~~~
THE. QUICK. BROWN. CHEESEPOPE. JUMPED. OVER. THE. LAZY~(BOY).
Gotta luv doze barcaloungers...
Because that would not look good for the Fed already being investigated by the Inspector General for last month's humilating breach.
--> they're all gonna be on SNL cause it's really Lorne Michaels wagging that dog.
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The physics are far from simple and involve a flux-capacitor. Someone should see if Hilsenrath has a DeLorean stashed behind his office.
Well, that's it.
I want my Evelyn Woodhead speed reading course money back...
It's amazing how fast the man offers a thoughtful response. It's as if his response was planned weeks in advance.
"Evelyn Woodhead speed reading course"
That's Evelyn Woodhead "sped redding" course
There. Fixed it.
Either these people are preapproved or they are algos/terminators. I'm really not sure, to be honest...
I met Hilsenrath in person and I can assure you he's 100% algo. :)
CD can I venture a guess that this is what you looked like after returning from your meeting?
http://www.youtube.com/watch?v=QhBr0lPNuuU
OK.......I want that camera OUT of my bathroom. NOW! :)
Is he reptilian too?
He said it was just a temporary skin condition. Who was I to judge?
Hey CD... How are you doing (family too)? Reading this post, I couldn't pass up making a quick comment to the community on this post. Namely...
Hilsenrath, like every other good Fed and World Central Bank manipulator (i.e. con), one can never take the Stilettos off the WHORE. After all, it would shrink and diminish them all down to size.
To Johnny boy: Keep bending over. All your experience, education, and promotions probably really make your parents and extended family proud at Holiday times. You clearly have hit the big leagues with your greased up missives as the Fed's whipping bitch. Then again, Rupert uses you too for advertising dollars.
Mrs. Cog and the extended family are doing well AR. Thank you for asking.
".....one can never take the Stilettos off the WHORE."
I think you just insulted Stilettos everywhere with your comment. Take it back. :)
I must have been pre-approved as well, but I didn't know.
http://blog.quantsig.net/2013/05/22/sp500-post-fomc/
Is QSN yours?
Yes sir.
Nice work.
Hilsenrath belongs in the same cell with Bernanke, so they can suck each other off.
That's overly kind and wholly uncreative. They should be in separate cells, each equipped with a glory hole. Who knows what zany mechanical contraptions we could install on the other side!
Ben will be happy in whatever circumstance you drop him as long as he still gets to blow bubbles
The problem is that Bubbles doesn't like getting blown by bloodsucking vampires - makes him really really nervous. Those fangs can do some serious damage, you know.
Hilsenrath just reminds me so much of David Spade's character in Coneheads.
I don,t care much about these boring articles, but can someone enlighten me with why did they kill somebody else on this Boston Bs thingy...
A comma? Really?
To be fair, the look the same on the keyboard. o_O
the....?
;-) (it is a fight club, after all)
Is that you Bill Gross?
Add Steve Lies-man to that mix.
CRIMINALS
Ben is in the Mother of All Pickles.
there, I said it...now, where did I put my scotch?
If it's an Islay I think you should let me hold onto it for you for 'safe keeping'
write to the Fed -- ask straight out to be included on the "early release list" .... response is hysterical.
http://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refUrl=/aboutthefed/contact-us-topics/other.htm
Yeh...they send your application to the IRS first....then respond.
That's what happens when you offer you ass for servicing these guys....Inside information.
I can touch type, if it helps.
See, doing it now. Freaks my wife out when I type while talking to her.
Hey, me tyoo,. I', doing it righ now as Im,' reading your post,. Not bad, hujh?
410 words in 180 seconds is 137 words per minute, that's world class speed though. And no typos.
He should be called Jon "Lightningfingers" Hilsenrath.
More like, cut & paste each paragraph from the approved responses file.
Can the US markets get more criminal? But they do every day.
I was going to say maybe he wrote 2 or 3 articles beforehand and just published the one that fit the likely outcomes but..... that's got quotes and point-by-point analysis. No way. He got the report early.
Didn't the Fed recently ask the FBI to help them keep things secure until actual scheduled release time? Perhaps we should ask them. On second thought, nevermind.
Tyler - Can you request Hilsenrath's personal trading account records from the WSJ please?
Y'know.... just for some laughs... Clowns need to be laughing.... or they cry.
Hilsenrath is a Fed has-been.Trying to talk bubbling down. It's not working. This bubble is getting so large it's going to cause historic damage,
Fed's initiation is to blow huge soap bubbles, so they get used to blowing them.
Don't worry, they know that. They aren't trying to talk it down so much as to keep the herd unsettled for yet another day, while they take all of their shit.
Bubbling down, blobbing up! Perfect for an ‘american’ bank! Make me ho ho ho.
NEWS FLASH! THEIR JOB IS TO SET US UP!! YOUR JOB IS TO STOP BUYING INTO YOUR OWN BULLSHIT!!
So Ben confirms there is a recovery, I am sorry, but did I missed something?
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I am going to try and write a semi coherent piece in the same time Hilsenrath made his piece off the top of my head in under 180 seconds. We know that the Fed can never stop QE because it is the only thing supporting the market. There is no actual money on the sidelines that can come in and rescue the market if the flow of funds from the Fed stop.
So even through bubbles of epic proportions are being blown, it isn't possible to stop. Perhaps later this year, the recovery will actually reach critical mass and be self sustaining, yet there is no evidence from the past four years that supports this conclusion. We don't know the future though, so perhaps he can stop QE if the data supports it. If the data supports the ending of QE then it should have no effect on the market as the market will at that point be self sustaining.
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So that was 181 seconds and 159 words. Nope not possible for Hilsenrath to type up his report after the Fed minutes were released.
I don't have much to add to this conversation (and I am a terrible typist, so the more I type, the worse it usually gets), but I gotta wander who the fuck would feel the need to give you a red arrow adr????
Is that you Hilsendouche?
... junk bonds are trading below 5%, people are pulling money out of 401k to "invest" in housing, and they are debating when?
The perfect excuse for them to ban lump sum dispersmentss before retirement
age.
Never let a crisis go to waste especially after you fabricated it in the first
place.
Heads they win,tails you lose.Same as it ever was.
Hadn't thought about that line before, though I suspect they'll instead tax them heavily enough that no one will be better off for making that selection.
We have finacial markets trading on nthe words of liars! What a fraud!
Burn Baby burn... I love flaming red arrows. http://www.investing.com/indices/major-indices
No to mention the stock broker of him and his 500 closest friends.
As I have learned at my time here at ZH. I never post first on a long ZH article until 5 minutes have gone by , just so everyone "knows" I read every word of that article.
make bubble/burst bubble/ignore bubble if economy is weak/strong/unsure
Everyones clear they dont want a weak economy.More people means more uncertainity on consesus therefore postive bias exists.
Its ok if the economy tanks after bursting this bubble, we can just break glass and start Hyper Quantitative Easing(HQE1)
The tricky part is safe landing equity while concurrently increasing bond yields to match retirement requirements of all those lovely 401k passengers
He should have had the decency to wait a good 45 minutes until ben at least had the opportunity to wash the drool out of his beard.
YOUR STILL PLAYING WITH STOCKS ??
DUMB ASS !!!
GROW UP, GET SMART, SMELL THE FARTS FROM THE FEDS, IF YOUR NOT ON THE LIST YOU BETTER PICK UP SHINEY THINGS !!!
Hilsenrath isn't human. He's an algo driven bot. That's why the quick response.
Should be: "When to pull out!"
Note to Hilsenrath ; The chicks dig it when you can last longer than three minutes...
Lloyd's okay with his little "minute man".
Apparently it was deemed important to be first with the spin.
Is this for real. Am I imagining this - the Fed speaks and hrath interperates it for the unwashed.
"I invented the piano key neck-tie - I did that!!!!"