With the wild world of central bankers full of double-speak, counter-factuals and well-chosen anecdotes, statements of questionable sanity are not difficult to find. However, Dennis Lockhart, who has already done his optimistic economic damage to stocks this morning just outdid himself. Speaking in his home town, the Atlanta Fed President stated confidently in the Q&A after his speech:
“One of the stupidest things a central banker could do is comment on the stock market."
The stock market is not "a bubble in any way"
"Stupid" indeed, Mr Lockhart...
Fed Lockhart: “One of the stupidest things a central banker could do is comment on the stock market." But adds, he doesn't see a bubble.
— Michael S. Derby (@michaelsderby) January 13, 2014