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"Flexible" Fed Loses "Patience"; Cuts Growth, Inflation Forecasts: Redline Comparison

Tyler Durden's picture




 

Evan as The "boxed-in" Fed nears the vinegar strokes of its easing cycle, today's statement continued to offer something for everyone (hawks, doves, bulls, & bears) to hold onto:

  • *FED DROPS PATIENT STANCE ON INTEREST-RATE RISE GUIDANCE (hawk)
  • *FED SAYS ECONOMY `HAS MODERATED SOMEWHAT,' JOB MARKET IMPROVED (dove)
  • *FED SEES 2015 GDP GROWTH OF 2.3%-2.7% VS 2.6%-3% DEC. EST. (dove)
  • *FED WANTS TO BE `REASONABLY CONFIDENT' ON INFLATION FOR LIFTOFF (hawk)

So, despite previous Fed promises, we have seen dismal macro data, no consumption gain from low gas prices, and USD strength headwinds; and yet, as they shift growth expectations in their dot plot, we're supposed to believe that. The bottom line: Fed to Markets: "you're on your own"-ish: undertainty is back. Full redline below...

Pre-FOMC: S&P Futs 2059, EUR 1.0650, 10Y 2.05%, Gold $1152

Additional Headlines...

  • *FED SAYS RATE RISE ALSO TIED TO MORE LABOR-MKT IMPROVEMENT
  • *FED: RATE GUIDANCE DOESN'T MEAN FOMC DECIDED ON LIFTOFF TIMING
  • *FED SAYS RATE RISE `REMAINS UNLIKELY' AT APRIL FOMC MEETING
  • *FED SAYS HOUSING REMAINS SLOW, `EXPORT GROWTH HAS WEAKENED'
  • *FED REPEATS INTL DEVELOPMENTS TO BE TAKEN INTO ACCOUNT
  • *FED SEES 2015 GDP GROWTH OF 2.3%-2.7% VS 2.6%-3% DEC. EST.
  • *FED SEES 2015 JOBLESS RATE 5%-5.2% VS 5.2%-5.3% IN DEC. EST.
  • *FED SEES 2015 PCE INFLATION 0.6%-0.8% VS 1%-1.6% IN DEC. EST.
  • *FED SEES LONGER-RUN UNEMPLOYMENT RATE 5%-5.2% VS 5.2%-5.5%

Here is what the major changes are:

  • Fed notes that recent growth (no longer activity) has "moderated somewhat" instead of "expanding at a solid pace."
  • Fed adds that "export growth has weakened"
  • Fed removes measures of inflation compensation "have declined substantially" and replaces with "remains low"
  • Fed changes "inflation is anticipated to decline further" with "remain near its recent low level"

And then when it comes to the patience language there is a whole lot of crazy stuff going on- for the full redline comparison see below.

*  *  *

Time to raise rates? Seems like the perfect time!!

*  *  *

This seemed to sum up The FOMC's decision-making process perfectly...

*  *  *

Here is what the dot-plot looked (and market expectations) looked like before... (notice how much more dovish the market remains)

 

And after...

 

Word Count rise - bullish

 

*  *  *

Full Redline...

 

 

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Wed, 03/18/2015 - 14:02 | 5902827 nope-1004
nope-1004's picture

Raise rates.  I dare ya.

 

Wed, 03/18/2015 - 14:04 | 5902837 Pooper Popper
Pooper Popper's picture

Fuck the steamy pile of shit fed !

Wed, 03/18/2015 - 14:06 | 5902847 Headbanger
Headbanger's picture

Heads up for you TA-tards:

Parallel channel starting at the low Friday.

So.. S&P hits 2100 and then....

Wed, 03/18/2015 - 14:10 | 5902886 graneros
graneros's picture

Holy shit. It is 1408 East coast time and the DOW that was down over a hundred just shot straight up around 200 points and is still going.  When I say straight up I mean straight up. Absolutely in-fricking-credible. What the hell is happening?

Wed, 03/18/2015 - 14:15 | 5902918 SilverIsKing
SilverIsKing's picture

Don't fuck with the algos.

Wed, 03/18/2015 - 14:15 | 5902921 Headbanger
Headbanger's picture

What I said dude ^^^^^^

Wed, 03/18/2015 - 14:20 | 5902955 saints51
saints51's picture

Even crude has went full retard. This is crudes 330 ramp time. Likely be one big fucking gap tomorrow morning.

Wed, 03/18/2015 - 14:33 | 5903007 Headbanger
Headbanger's picture

Nahhhhhh...

Wed, 03/18/2015 - 14:37 | 5903062 saints51
saints51's picture

wanna bet

Wed, 03/18/2015 - 16:06 | 5903444 Bay Area Guy
Bay Area Guy's picture

Crude's up, in part, because the dollar is down, at least against yesterday's values.

All the Fed did was telegraph its intentions to never raise rates.  Yellen's weasel words about just because we got rid of the word patience doesn't me we've lost patience tells me all I need to know.  The economy is really no worse off today than it was a year ago.  The only reason the Fed is mentioning a weakness now is so that in June and September, they can come out and say, "Gee, we WOULD have raised rates, but the economy is just too fragile right now".  This buys them at least six months to a year before they have to even consider raising rates.

This kind of crap is what happens when you use bullshit numbers to describe your economy.  5.6% unemployment instead of at least double that.  Low to no inflation when your market basket of goods can change at the whim of the government and excludes those pesky food items.  But if you buy a computer every month, you can probably say inflation is down to non-existant. 

I don't know what's worse.....using the bullshit numbers to describe the economy knowing they're full wrong.....or using the bullshit numbers because you really believe they're true.  Sometimes I think they have really bought into the big lie and they really think the economy is (was) fine.

Wed, 03/18/2015 - 14:19 | 5902947 Miffed Microbio...
Miffed Microbiologist's picture

Frankfurt is on fire. Hopefully it will spread here.

Miffed

Wed, 03/18/2015 - 14:23 | 5902967 Bunghole
Bunghole's picture

Must be because AAPL is now part of the Dow.  /s

Wed, 03/18/2015 - 14:20 | 5902956 Legolas
Legolas's picture

HTF can this be good for the markets?  Only in an alternate universe.  I know, I know, pay no attention to the man behind the curtain.

Wed, 03/18/2015 - 16:08 | 5903457 Bay Area Guy
Bay Area Guy's picture

No interest rate hike means more free money for the banksters, which means good times are still here for them.  Not so much for the 99.99% of course, but we don't count them.

Wed, 03/18/2015 - 15:15 | 5903241 First There Is ...
First There Is A Mountain's picture

Going higher than 2100. It's going to hit 2150 before bumping its head on the year-long overhead ascending trendline....Ultimately it wedges to 2200 before SHTF.

Wed, 03/18/2015 - 14:29 | 5902911 Praetorian Guard
Praetorian Guard's picture

Exactly! Wtf? Anyone see that massive move here within fucking seconds/minutes! Again wtf???? Fucking cocksuckers...   manipulation? Nah, doesn't exist here. Shit rains from heaven, great day on the market, city vaporizines, great day on the market, GDP outlooks down, great day on the market... what a joke.   

 

Come join us for free at www.gunsgrubandgold.com

Wed, 03/18/2015 - 14:06 | 5902853 Soul Glow
Soul Glow's picture

Rates could whether they like it or not.  The Fed can only print for so long until the bubbles burst.

Wed, 03/18/2015 - 14:07 | 5902861 Fukushima Fricassee
Fukushima Fricassee's picture

Might happen if a conservative is ever elected president.

Wed, 03/18/2015 - 14:18 | 5902889 Dr. Engali
Dr. Engali's picture

Bwahahahahahahahaha....... A conservative president...... Lol, remind me again when we ever saw a "conservative" president who actually shrank government. A conservative president, that's fucking rich.

Wed, 03/18/2015 - 14:27 | 5903001 saints51
saints51's picture

lol Doc, Whats even funnier is republicans preach smaller government but always want to expand the military. I swear the voters who support either democrats or republicans are retards. The last time I checked the military was part of the government. So if you shrink other parts of the government and expand military, you really didn't shrink government at all. I spelled it out for the slow ones.

Wed, 03/18/2015 - 17:10 | 5903781 NihilistZero
NihilistZero's picture

Eisenhower was pretty good.  High taxes kept the Oligarchy from buying and the expanding government.  That's pretty conservative in my eyes.

Wed, 03/18/2015 - 14:08 | 5902869 Millivanilli
Millivanilli's picture

Full retard jawboning alert.

Wed, 03/18/2015 - 14:10 | 5902882 OldPhart
OldPhart's picture

Bang, to the moon, Alice!

Wed, 03/18/2015 - 14:15 | 5902919 OldPhart
OldPhart's picture

Notice that no circuit breakers stopped the 300+ point change in value? 

Wed, 03/18/2015 - 14:10 | 5902885 Millivanilli
Millivanilli's picture

Full retard jawboning alert. Why would the fed raise rates when the banks can continue to Rob savers? Why would the Fed raise rates and in the process destroy their portfolio?

Wed, 03/18/2015 - 14:30 | 5902958 Shizzmoney
Shizzmoney's picture

RE

Raise rates.  I dare ya.

They won't raise raise until 2017...if the world doesn't blow up by then

They can raise rates; but it will just be incremental, at 10-20 bps, and not an actual rike hike.....you are right in that it CAN'T do that (like what Volcker did in the 70s).

Pace, not timing of rates, matters for Fed monetary policy; that's why this statement is bullish for yields and equities and is interpreted as dovish.  Traders who don't believe that the Fed will take a drastic measure to raise rates were affirmed in their beliefs today.  This is not your dad's interest rate hike.

BUT the reason they believe they can hike minimally (and they really only do so for show; they in their heart of hearts KNOW they need near ZIRP interest rates for the next 20-25 years...they just won't admit it) is because it will be OFFSET by major printing by other CBs like the BOJ, ECB, and BOE which will be needed in the falls as Europes and Japan slides deeper into deflation.

The CBs today, it's an octopus - and the Fed is the head.  It can cut off parts of its body and replace them easily because of its reserve currency statis. 

BUT once someone cuts off its balls though?  It's game over.  The black swan that causes this is the unknown variable. 

 

Wed, 03/18/2015 - 14:25 | 5902977 sun tzu
sun tzu's picture

A 1% FFR will collapse the economy into a Greater Depression and they know it.

The only thing propping this corpse of an economy up is the stock market bubble. 

Wed, 03/18/2015 - 16:14 | 5903506 Bay Area Guy
Bay Area Guy's picture

Agreed.  I don't think anyone wants to look at another $180 billion being added to the federal deficit for debt service.  And if rates go back to historical norms, meaning a raise to about 4.5%, you're talking about adding $810 billion to the annual deficit.  And that's based on the nominal debt of $18 trillion.  If they add in all the off-balance sheet items, the annual deficit doubles from the amount in the worst of the Obama budget years.  In other words, we be fucked.

Wed, 03/18/2015 - 14:02 | 5902828 Soul Glow
Soul Glow's picture

Patience, bitchez

Wed, 03/18/2015 - 14:16 | 5902922 Bay of Pigs
Bay of Pigs's picture

Liesman just creamed his jeans with the rest of the All Star panel at the BlowHorn.

These people are fuckan delusional, not to mention totally dishonest and intellectually bankrupt.

 

Wed, 03/18/2015 - 14:03 | 5902830 FreeShitter
FreeShitter's picture

The patient is dying, there will no be no rate hikes Dr.

Wed, 03/18/2015 - 14:06 | 5902851 KnuckleDragger-X
KnuckleDragger-X's picture

No problem, the leeches will fix him right up.....

Wed, 03/18/2015 - 14:03 | 5902832 Dr. Engali
Dr. Engali's picture

What a fucking joke our "markets" have become, everybody relies on one fucking word.

Wed, 03/18/2015 - 14:05 | 5902844 Pooper Popper
Pooper Popper's picture

and that word is

 

 criminal!

Wed, 03/18/2015 - 14:07 | 5902860 Temporalist
Temporalist's picture

Free Corzine!

Wed, 03/18/2015 - 14:11 | 5902888 Headbanger
Headbanger's picture

I thought bird was the word!

https://www.youtube.com/watch?v=aPrtFxd9u9Y

Damn I'm old..

Wed, 03/18/2015 - 14:03 | 5902834 ejmoosa
ejmoosa's picture

No rate hikes, ever.

Wed, 03/18/2015 - 14:05 | 5902846 duo
duo's picture

Damn, I was counting on 0.5% interest on my savings to retire on.  0.25% just wasn't cutting it.

Wed, 03/18/2015 - 14:08 | 5902871 ejmoosa
ejmoosa's picture

More share buybacks, more student loans, more subprime car and home loans...

Let's get this party started!!!

Wed, 03/18/2015 - 14:25 | 5902931 fockewulf190
fockewulf190's picture

No need to worry about interest rates. They´ll make sure your retirement is vaporized just before you need it. You´ll be working for food in your 80´s...or begging for it.

Wed, 03/18/2015 - 16:15 | 5903524 Bay Area Guy
Bay Area Guy's picture

duo, you get 0.25%?  Damn, where do I sign up?  At our local bandits.....I mean banks, they proudly advertise the "High Yield Savings" at 0.1%.

Wed, 03/18/2015 - 14:10 | 5902881 ejmoosa
ejmoosa's picture

Keynes and Krugman are walking. Keynes says, "I'll pay you $5,000 to eat a dog turd." Krugman does it. Keynes doesn't have any evil savings and didn't think Krugman would do it: The next day he begs for the money back. Krugman says, "I'll give it back if you eat a turd." Keynes does it. Krugman says, "That was stupid: No one made money and we've both eaten sh*t." Keynes says: "But we boosted GDP by $10,000." - Teal

Wed, 03/18/2015 - 14:04 | 5902835 davidalan1
davidalan1's picture

Wow, thats a shocker------ NOT !! they will never have the gonads to raise sheeeit..EVER..

Wed, 03/18/2015 - 14:04 | 5902838 khakuda
khakuda's picture

MOAR for longer!!!

Pump it up, baby!  Free money lives!!!

Wed, 03/18/2015 - 14:04 | 5902839 Yen Cross
Yen Cross's picture

 The fed. is going to raise rates when the UE is 3.5% and the Participation rate is 60%. </sarc>

Wed, 03/18/2015 - 14:04 | 5902840 B2u
B2u's picture

Fuck the rates,  give me some FREE money....

Wed, 03/18/2015 - 14:22 | 5902960 fockewulf190
fockewulf190's picture

Club members only.  Sorry Charlie!

Wed, 03/18/2015 - 14:10 | 5902841 madcows
madcows's picture

Stocks go vertical?!  I thought the only reason we were here was b/c of the free money used for buy-backs?

Wed, 03/18/2015 - 14:06 | 5902849 Tsar Pointless
Tsar Pointless's picture

From the looks of the equity indices, it looks like this decision was leaked about five minutes early.

Straight up from 1:55 ET. Over 250 points from the LOD printed about 20 minutes prior.

Impressive. Not to mention bullish. But I just did.

Wed, 03/18/2015 - 14:08 | 5902874 KnuckleDragger-X
KnuckleDragger-X's picture

You gotta admit though, that's one helluva spike.....

Wed, 03/18/2015 - 14:06 | 5902850 Bay of Pigs
Bay of Pigs's picture

Now they are all DOVES?

Where the fuck is Dick Fisher!

Wed, 03/18/2015 - 14:10 | 5902883 madcows
madcows's picture

I prefer to call him Fish Dicker.

Wed, 03/18/2015 - 14:06 | 5902852 zappafan
zappafan's picture

If the old adage "the first move after FOMC is usually a head fake" is correct, there is going to be one epic dump later today.

Wed, 03/18/2015 - 14:08 | 5902868 davidalan1
davidalan1's picture

I will have my popcorn ready around 3:30pm?

Wed, 03/18/2015 - 14:09 | 5902880 desirdavenir
desirdavenir's picture

the move started 15mn before the release... but let's wait and see...

Wed, 03/18/2015 - 14:27 | 5902995 Gambit
Gambit's picture

I have to agree with you, but I dont know the agreement is because that is what I hope it happens or because you are correc.  From my perspective all the news is bearish in a sense that it points to increased rate.  Saying the decision is going to be based on employment related news and yet predicting that the unemployment will go down

Wed, 03/18/2015 - 14:27 | 5902996 Gambit
Gambit's picture

I have to agree with you, but I dont know the agreement is because that is what I hope it happens or because you are correc.  From my perspective all the news is bearish in a sense that it points to increased rate.  Saying the decision is going to be based on employment related news and yet predicting that the unemployment will go down

Wed, 03/18/2015 - 14:09 | 5902854 SillyWabbits
SillyWabbits's picture

So PATIENT is out --- wait and see is in!

Wed, 03/18/2015 - 14:07 | 5902855 Abapom
Abapom's picture

can somebody explain what just happen on DOW SP and NASDAQ? from -110 to +80 in 3 seconds!!!

WHF?

this is insult to my intelicgence!

Wed, 03/18/2015 - 14:09 | 5902877 Ness.
Ness.'s picture

The junkie just got another dime bag.  He might die tomorrow, but tonight he'll get higher than 10 hippies.

Wed, 03/18/2015 - 14:11 | 5902891 davidalan1
davidalan1's picture

Its simple.  This morning and early afternoon the traders were a bit skiddish about the drug dealer showing up this afternoon.

He showed up at 2pm...all is well- Party on-- snort and then snort somemore

Wed, 03/18/2015 - 14:07 | 5902856 polo007
polo007's picture

According to Natixis:

http://www.ge.tt/5osnEOC2/v/0?c

March 13, 2015

What are the differences in economies where debt ratios are very high?

Debt ratios (public, private and total) are at present extremely high in a vast majority of OECD countries. How does this change the functioning of these countries' economies?

• Fiscal policy becomes more restrictive and can hardly become very counter-cyclical due to high public debt ratios;

• The private sector deleverages, and monetary policy can no longer use the credit channel;

• Central banks have an incentive to conduct expansionary monetary policies to facilitate deleveraging.

In countries where debt ratios are very high, we can therefore expect to see:

• Weaker growth (a restrictive fiscal policy, private-sector deleveraging);

• Deeper recessions (lack of counter-cyclical capacity of fiscal and monetary policies);

• And yet a sharp rise in asset prices (equities, real estate), due to expansionary monetary policies and long-term interest rates that are lower than growth rates.

Paradoxically, excessive debt ratios can be positive for equities and real estate.

Wed, 03/18/2015 - 14:07 | 5902858 Charles Nelson ...
Charles Nelson Reilly's picture

they won't even really consider raising rates until 2017.... if the fucking world isn't blown up by then.

Wed, 03/18/2015 - 14:08 | 5902873 Temporalist
Temporalist's picture

No, no, no.  15 minutes. 

Wed, 03/18/2015 - 14:07 | 5902859 q99x2
q99x2's picture

Stay the course BTFD. Software algos don't give a rat's ass about the economy.

Wed, 03/18/2015 - 14:07 | 5902863 Darkdoc
Darkdoc's picture

S & P up 24 in 6 minutes.

Wed, 03/18/2015 - 14:08 | 5902864 dcohen
dcohen's picture

Partytime!!!

Wed, 03/18/2015 - 14:08 | 5902865 Iam Yue2
Iam Yue2's picture

1937: Redux.

Wed, 03/18/2015 - 14:08 | 5902867 maneco
maneco's picture

The Fed has been able to fool most of the people most of the time for the last half decade. How long can they keep the game going?

Wed, 03/18/2015 - 14:18 | 5902941 Hohum
Hohum's picture

Indefinitely but not infinitely.

Wed, 03/18/2015 - 14:08 | 5902872 Silverhog
Silverhog's picture

"LIFTOFF"

 

So far, it's one firecracker under 30 cement blocks.  

Wed, 03/18/2015 - 14:09 | 5902875 thismarketisrigged
thismarketisrigged's picture

what a fucking shocker.

 

the fed will most likely not raise rates in april.

 

these mother fuckers will never fucking raise rates, why the fuck r there some assholes out there that think its a possible scenario eventually?

 

they make up every fucking excuse on the planet why they wont do it, eventually they will use the excuse '' we can not raise rates until all 300,000,000 plus ppl in the u.s have some type of job, be it full or part time.

 

its laughable, yet they will continue to tell us how well the economy is, and cramer can tell us how great everything is.

 

die fed die die die bankers u fucking piece of worthless scum

Wed, 03/18/2015 - 14:18 | 5902938 disabledvet
disabledvet's picture

She's from Brooklyn.

 

What does she care?

Wed, 03/18/2015 - 14:09 | 5902876 ted41776
ted41776's picture

it's like that video of twitching frog legs hooked up to electrodes... look, they're still moving! but for how long?

Wed, 03/18/2015 - 14:09 | 5902879 iofera
iofera's picture

The editors of Zero Hedge would like to take this opportunity to congratulate Benjamin Netanyahu on his impressive victory today in Israel.

As many readers know, Zero Hedge has a bit of a soft spot for Israel, and so it is with no small pride that we make this announcement.

Well done, Bibi!

Wed, 03/18/2015 - 14:11 | 5902887 dcohen
dcohen's picture

What was impressive with it?

All israeli parties are the same, fuck them all.

Wed, 03/18/2015 - 14:16 | 5902923 walküre
walküre's picture

You mean Bibi won when they figured out how to turn on the Diebold machines?

Bibi lost until the election results got rigged. Blatantly obvious.

Wed, 03/18/2015 - 15:00 | 5903156 maneco
maneco's picture

Why does an election in a tiny emerging market country matter?

Wed, 03/18/2015 - 14:11 | 5902893 nakki
nakki's picture

So just as I've said all along. FED set to raise rates in June of 20 and never. They'll always be a reason not to. 

Wed, 03/18/2015 - 14:11 | 5902895 oldmanofthesee
oldmanofthesee's picture

I'm on the edge of my seat, awaiting clarity from the sock puppet!

Wed, 03/18/2015 - 14:12 | 5902897 Yen Cross
Yen Cross's picture

 Blub...Blub...Blub goes usd/jpy. The Nikkei is going to get hammered.

Wed, 03/18/2015 - 14:14 | 5902899 walküre
walküre's picture

They don't need to raise rates. When QE3 ended, the liquidity drained from markets. Stocks are the only game in town for better yields but depending on corporate buybacks.

We are all Japan now. Slowly grinding down until we're all dead....

Eventually comes QE4, bread prices go up 50%, stocks go up 25% and subprime car loans have 184 months durations.

Money and currencies are essentially worthless but manipulation and propaganda keep a lid on alternative currency valuations and the revolution will never come unless it can be commercialised.

Boring. Might as well start a tack & bait shop.

Wed, 03/18/2015 - 14:14 | 5902901 firstdivision
firstdivision's picture

Maybe my eye sight is failing me in my old age, but those rates on the dot plot seem to be missing a negative sign infront...or was that the joke?

Wed, 03/18/2015 - 14:13 | 5902904 juicy_bananas
juicy_bananas's picture

TURN THOSE MACHINES BACK ONNNNNNNNNNNNNNNNNNNN!!!!!

Wed, 03/18/2015 - 14:13 | 5902905 Neue Regel
Neue Regel's picture

Excuse me for my ignorance as I am still trying to understand how the new markets work. So when the Fed is patient the markets go up and when the Fed is not patient the markets go up. So in all cases it seems that the markets go up. What a wonderful modern invention.

Wed, 03/18/2015 - 14:13 | 5902908 El Hosel
El Hosel's picture

MOAR Goldiloks, this shit never gets old. Bad news is even better than before.

Wed, 03/18/2015 - 14:17 | 5902912 lester1
lester1's picture

Years from now, economic text books will show QE and ZIRP from the Federal Reserve to be the biggest financial scam in human history.

QE is engineered to provide the Fed's "primary dealer" banks with free money printed out of thin air ("MBS purchases"). The Fed has been their primary dealers to buy up stocks to keep this stock market going higher and higher no matter what.

Don't believe me?.. Look at the correlation between the Fed's balance sheet constantly going up and DOW constantly going up over the past 6 years. Google it. And now since QE ended the DOW has been flat.

ZIRP is strait up theft from savers. QE is basically to protect the assets of the wealthy 1% from natural deflation due to the current economic depression on main street.

Until this artificial stock market finally crashes, sadly nothing will change on main street.

Wed, 03/18/2015 - 14:18 | 5902937 Temporalist
Temporalist's picture

If you print it, they will cum.

Wed, 03/18/2015 - 14:20 | 5902953 Hohum
Hohum's picture

The Great Redistribution.

Wed, 03/18/2015 - 14:14 | 5902915 wmbz
wmbz's picture

This bitch will go to the moon now! The un-fed runs the entire show and that's all anyone needs to know.

Going down is not in their vocabulary unless it's in regard to sucking wallstreets cock!

Wed, 03/18/2015 - 14:15 | 5902917 desirdavenir
desirdavenir's picture

extermination of the shorts before the drop ?

Wed, 03/18/2015 - 14:16 | 5902924 El Hosel
El Hosel's picture

... The Fed statement Ha!.....  We will say anything to keep the algos in green mode, Duh.

Wed, 03/18/2015 - 14:19 | 5902925 SillySalesmanQu...
SillySalesmanQuestion's picture

ZIRP & NIRP Fo Evah!

Fed raises rates soon.

Wed, 03/18/2015 - 14:16 | 5902926 SillyWabbits
SillyWabbits's picture

 

 

If you shake the teacup before you read the leaves, you can change the arrangement.

 

 

Wed, 03/18/2015 - 14:16 | 5902927 Atomizer
Atomizer's picture

POMO, Operation Twist, QE 1,2,3,4. 

What a complete failure. Stop focusing on rate to change. Your going to get skunked. 

http://www.federalreserve.gov/bankinforeg/basel/basel-coordination-commi...

Wed, 03/18/2015 - 14:17 | 5902929 maneco
maneco's picture

Weimar-on-Potomac!

Wed, 03/18/2015 - 14:17 | 5902930 Darkdoc
Darkdoc's picture

The move started early - it was leaked.

Wed, 03/18/2015 - 14:38 | 5903072 Banker Buster
Banker Buster's picture

Yes I noticed it too.  Someone got the news early.

Wed, 03/18/2015 - 14:17 | 5902932 Bill of Rights
Bill of Rights's picture

" Are you entertained "

Wed, 03/18/2015 - 14:18 | 5902936 Hammy27
Hammy27's picture

The bottom line: Fed to Markets: "you're on your own"-ish: undertainty is back

Seems they can handle this quite good :D

Wed, 03/18/2015 - 14:18 | 5902939 vaft
vaft's picture

I knew there would be a vixtermination today.

 

Wed, 03/18/2015 - 14:18 | 5902940 vegas
vegas's picture

And somehow people thought the FED was going to throw cold water on the equities market? Joke is on those who were short going into this.

 

www.traderzoo.mobi

Wed, 03/18/2015 - 14:25 | 5902981 walküre
walküre's picture

Don't think there are too many shorts left. We will not reach higher highs. To drive markets higher, they need to change up the game again. Just not raising rates ain't gonna cut it.

Wed, 03/18/2015 - 14:18 | 5902942 astoriajoe
astoriajoe's picture

I've got to hand it to the Fed. Coordinating all of this lunacy to collapse at the same time really takes a tremendous amount of skill. Its an impressive effort.

Wed, 03/18/2015 - 14:19 | 5902943 khakuda
khakuda's picture

Janet Yellen, "Actually, inflation and employment are irrelevant.  The stock market is our mandate.  It must go up.  Everyday."

Wed, 03/18/2015 - 14:18 | 5902945 Sanity Bear
Sanity Bear's picture

S&P 30 handles straight up in the blink of an eye. Save today's chart to stick in the face of anyone who tells you that stock market valuation isn't entirely dependent on Fed policy.

Wed, 03/18/2015 - 14:26 | 5902983 Hammy27
Hammy27's picture

Oh c'mon... USD was down the whole day... did you really expected any other reaction?... really?... c'mon...

Wed, 03/18/2015 - 14:19 | 5902950 the not so migh...
the not so mighty maximiza's picture

the economy is sooo good we will never ever have interest on savings again

 

Wed, 03/18/2015 - 14:19 | 5902952 Seasmoke
Seasmoke's picture

Yellen will be very good for Gold......Patience !!!!!

Wed, 03/18/2015 - 14:23 | 5902954 gmak
gmak's picture

Aug 17; Oct 18 - both in 2007(?); and now Mar 18, 2015.  All days that the Fed jawboned the markets higher.  What skill. Wish I was dumber and could be blissfully unaware.

 

At least they didn't wait until tomorrow morning at 9AM before screwing over the /ES shorts.

Wed, 03/18/2015 - 14:22 | 5902962 desirdavenir
desirdavenir's picture

At least ZH will not be able to say that hockeystick charts exists only in imagination...

Wed, 03/18/2015 - 14:26 | 5902993 Atomizer
Atomizer's picture

Yellen to Wallstreet, my sagging tits have run out condensed milk. Take it up with Basel steering committee.

 

Wed, 03/18/2015 - 14:36 | 5903018 El Hosel
El Hosel's picture

What a joke, QE and zirp made the dollar strong, more of the same makes it weak..... Thats a fun game.

Now, how about some big round numbers ( 18,000  5,0000 ) for the "Headlines".... Blow Horns

Wed, 03/18/2015 - 14:32 | 5903037 khakuda
khakuda's picture

HAHAHA.  "Just because we removed the word patient, doesn't mean we are impatient"

Wed, 03/18/2015 - 14:35 | 5903054 Neue Regel
Neue Regel's picture

So are we going back to 2100 today? And to think I was always hoping that the economy gets better so he markets go up. How Neanderthal of me. 

Wed, 03/18/2015 - 14:47 | 5903112 maneco
maneco's picture

The Fed is a cornered rat after 28 years of always coming to the rescue of Wall Street anytime the markets get into trouble! The Fed has created a bubble in all financial assets that will be remembered as the Bubble of All Bubbles. The best thing to do is to stay on the sidelines and watch.

Wed, 03/18/2015 - 14:47 | 5903128 cn13
cn13's picture

So basically the FED just said the U.S. economy sucks.

 

The FED can never raise interest rates. 

 

Confidence is quickly collapsing.

Wed, 03/18/2015 - 14:48 | 5903136 maneco
maneco's picture

They'll be re-starting QE before the end of the year! 

Wed, 03/18/2015 - 15:06 | 5903199 HurricaneMoney
HurricaneMoney's picture

The fed will never raise interest rates as long as there is a democrat as president, they are very political now. I hope the voters keep electing democrats forever. They are smart, and as a plus they will make me very wealthy. Those radical right wing republicans, who needs them, they don't care. I Hope obama can remain president, even after his 2 terms are up. Maybe he can issue an executive order to stay on as president. How lucky we are to have the smartest president in history to bring us closer to utopia.

Wed, 03/18/2015 - 16:16 | 5903528 Financial Paparazzi
Financial Paparazzi's picture

FED IS NO LONGER PATIENT, YELLEN MAY GET NERVOUS, ANXIOUS OR EVEN GO BERSERK

Financial analysts risk being replaced by doctors.

Source: www.financialpaparazzi.com

Fri, 03/27/2015 - 18:33 | 5935601 kelley805
kelley805's picture

Time for the Kelley Monetary Policy Rule

http://michaelekelley.com/2015/03/27/the-kelley-monetary-policy-rule/

Simultaneous QE and raising Fed Funds Rate.

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