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Digging Through The Fed's Improving Forecast
Perhaps the biggest red flag in today's FOMC release is the quarterly economic projections which improved from March with the Fed expecting better GDP and employment, offset by lower core and PCE inflation from 2013 all the way to 2015: whether this is sufficient for Bernanke to determine a need to taper the monthly $85 billion flow will be explained during the 2:30 pm press conference.
The central fed tendency: i.e., pretty blue charts
Just as notable: 4 of 19 FOMC members saw the first firming take place before 2015.
Finally, looking at the short end, 3 FOMC members saw a 1% Fed Funds rate by the end of next year, with one expecting for a 1.5% print. Still, the bulk of Fed economists are not too worried about the short end of the curve until 2015.
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Gold Reacting, Real Time: http://www.pmbull.com/gold-price/
If things is gettin' so much bettah, then whyz the patient still in the ER?
Sumptin's not amkin' sense, Luchie!
The patient ate to many igadgets.....
yes the terry shivavo economy...r.i.p.
LOL
Now that's just wrong!
But really funny...........
And my kids tell me I'm twisted
another most emabarrassing moment from our congress...remember bill frist...he had her good enough to get a job almost...they exploited that poor woman to know end...
Long unicorns, short Skittles.
I have to admit it's getting better, a little better, all the time (it can't get no worse!) ...
Ha ha. They are going to unwind into the future and need justification for it, so here's the up beat forecasts.
they are having a helluva of time holding gold and silver down. i thought we were supposed to see the metals crash?
what? paper isn't good enough for you peasants any more?
Meanwhile earthlings need to sit and think about what's going on, or adjust positions, while the silicates have already come and gone ...
Damn.... I knew I saw a buncha Lizard People this morning....
It's hard to fool Uncle Knukies, kids...
and now timr for Bill Gross to toss the feds salad.
wow. are we gonna see inflation now. this is going to cause some mighty, mighty pain.
The patient is just fine and stable....he's dead!
What is the prediction for how high gasoline can go before it kills the consumer?
Uh, it already did. $3.00 is the start of maximum pain. $4.00 means nobody puts more gas in than they need to to get to work and makes no trips.
$5.00 and people will start buring thier cars in protest.
Just look at gasoline consumption and wholesale numbers. We are what at 1970s levels of consumption now.
2015! Bwuuuhaahaaa!
This is no more than a con game.
This is more than a con game. We will see that soon.
Short end at 1.5 by year end...now that's fucking funny. 1.5% on the short end will blow everything up. Do they think we are fucking retarded? Nevermind I already know the answer to that.
Check out the 5yr. Wow.
Thats going to have to get addressed fairly quickly
yep. tick fucking tock...
How do their future projects comport with their history of projections?
That dollar bounce gonna be short lived too.
It should be pointed out that the Fed is using a GDP growth rate of 2.9 - 3.6% in 2015 while the CBO uses 6.0%+ for 2015-17 and 4%+ there after for all their budgeting models. Change the CBO models to what the Fed uses for GDP growth and the CBO will show drastically worse debt projections.
LOL - ben has been talking about "growth" and improvement for 5 yrs and here we sit - in the mud with americans getting poorer by the day
santelli is right - the simple and bottom line is that if the economy was really improving the fed would not need to pump 85 bill a month
spend it like you don't have to pay it off!
The core problem here is Bernanke and the other fucks at the Fed believe if they pump the market the real economy will follow. That's the problem. It hasn't worked because it can't work. If they pumped $85 Billion directly into the economy it might have an effect. But any of these shills who show us unemployment stats discounting the "discouraged workers" and "part time who desire full time and can't find it", and present these numbers as being real, are just peddling snake oil.
Fuck you Bernanke!
whats this "optimism" he keeps speaking of? is this something among bankers?
It's a new drug that comes in powder form. It has a great kick but when it wears off, reality is pretty ugly.
Well the administration could confiscate land from the Christian Churches and then issue bonds backed by the value of the land. It could then use those bonds to pay down the government debt.....I mean that worked so well for Revolutionary France. See Assignat.