Did The Fed's Magic Just Run Out?
Jackson Hole - that magical place where the world's greatest monetary central planners gather once a year to yarn long into the night about how they are printing money, crushing the middle-class, monetizing debt, and ramping asset prices; all in the name of economic progress and saving the world from the c-word... "counterfactual" that is. The last few years, Jackson Hole has also been a guaranteed Buy-The-Rumor and Buy-The-News moment for the smartest traders in the world... except this time something just changed.
- 2014 AUG 22 Yellen, Draghi, & Kuroda Let-Down - 1992.4 to 1988.4, -4
- 2013 AUG 22-23 No Bernanke Speech, Yellen Dovishness - 1642.8 to 1663.50, +21
- 2012 AUG 31-SEP 1 Bernanke QE3 Case - 1399 to 1413, +14
- 2011 AUG 26-27 Bernanke Moar - 1159 to 1210, +51
- 2010 AUG 27 Bernanke QE2 unveiled - 1047 to 1064, +17
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Did the Fed's magic just run out?
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