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Fed Finishes 54th Consecutive Meeting With No Hike, Hints At Dovish Delay
With no press conference, expectations were muted going in (aside from the ubiquitous VIX-dip, equity market rip that happens at every FOMC meeting) but seemed to hint at delaying a September/December liftoff is on the cards - needing more job improvement...
- *FED SAYS LABOR MARKET CONTINUED TO IMPROVE, JOB GAINS `SOLID'
- *FED REPEATS RISKS TO ECONOMY, JOB OUTLOOKS `NEARLY BALANCED'
- *FED: RATE TO RISE AFTER `SOME FURTHER' JOB MARKET IMPROVEMENT
And so the confusion continues... the jobs market is telling the Fed one thing, while inflation (held down by a lackluster Chinese demand which has in turn exacerbated a global deflationary supply glut) is saying something different, and remember 25bps doesn't matter (just like subprime was "contained"). Full redline below.
Pre-Fed: S&P Futs 2096.00, 10Y 2.2880%, Gold $1095, EURUSD 1.1050, VIX 12.92
As usual VIX was crushed:
But broadly, bonds have led and stocks lagged since the June Fed meeting...
But a data dependent Fed may have a problem convicing the world that they are hiking rates for anything but total horror at the asset bubbles they have blown... because macro data has faded again...
* * *
Further headlines...
- *FOMC VOTE WAS UNANIMOUS
- *FED SAYS LABOR SLACK `HAS DIMINISHED' SINCE EARLY THIS YEAR
- *FED REPEATS ECONOMY `EXPANDING MODERATELY' IN RECENT MONTHS
- *FED REPEATS IT WANTS TO BE `REASONABLY CONFIDENT' ON INFLATION
- *FED SAYS BUSINESS INVESTMENT, NET EXPORTS STAYED SOFT
- *FED REPEATS MKT-BASED INFLATION COMPENSATION GAUGES REMAIN LOW
This is the 54th straight Fed meeting with no rate hike. We now await Jon Hilsenrath (absent a press conference) to explain what The Fed means.
* * *
The Key Statement:
it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market
Which implies a delay or more dovish stance even though it contrasts with the addition of the word "solid" when describing the labor market:
The labor market continued to improve, with solid job gains and declining unemployment.
The last notable change: "energy prices appear to have stabilized" was removed from the June statement, and for good reason.
Full blueline below.
And perhaps more intteresting, the FOMC word count has largely normalized, and at 539, is down to levels not seen since August 2012:
* * *
And finally (h/t @RudyHavenstein) - this sing seems to be wasted now...
Charts: Bloomberg
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You're kidding. I really thought they were going to intentionally pop the bubble this time.
Grandma has a delay?
EPSON stock will hit $5,000 on printer toner sales before the DOW hits 10,000.
'Labor slack'? You guys remember from 'way back' when the target was 6.5% unemployment rate? Since, by the official numbers at least, we are well below that, is this a tacit admission that their numbers are complete bullshit and therefore meaningless?
This won't end well.
The best outcome for the Fed now is that the US follows the path of Japan since their economic meltdown in 1989 (a slow motion train wreck). However, unlike Japan in 1989, the US has very little possibility of economic support from other nations as things now stand. Bottom line: the exponential growth model is about to die.
This delay will only make it a lot worse in September.
Fucking idiots.
Not sure if this is a current belief or medical thing.
To some degree a study was claiming that Women increased testosterone as they aged... while some portion of men decreased their testosterone.
Assuming Yellen is past Menopause or "being a woman", she might be more man today or could be taking hormones to stay sharp while maintaining a feminine or passive appearance.
Any ZHers comments on if Yellen is Juicing?
Clearly Mr. Yellen doesn't have the balls.
Fed cannot increase rates....if they hike it...more dollars will leave US while creating more debt on their balance sheet at a time when the Fed balance sheet is already in God knows how many trillions....and if they don't hike the rate...then they are doomed anyways in the purgatory of death!
If they do it they are doomed and if they dont do it they are doomed.
All the silly economists and all the silly men have been saying rates will rise....just in the next few months.....since 2010!
Everything is a fuckin lie!
This headline is from 2010....and the tragicomedy continues....the video interview of Mohammed El Erian seems like it is in 2015! Everyone is clueless included El Erian.
Economists: Fed won't raise rates until 2012"The last duty of a central banker is to tell the public the truth"
- Alan Blinder on PBS
QE to infinity!
QE to infinity!
The fair and free markets now depend only on the policy of the Fed.
Inflation remains below the Fed's target of 2%? Inflation is at least 7% higher than 2%.
And labor market is strong? In whose crazed imagination?
If not for lies, the Fed would not have anything to say:
Every statistic about the US economy is now a lie as David Stockman looks at 5.5% unemployment:
At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.
By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!
http://davidstockmanscontracorner.com/the-warren-buffett-economy-why-its...
Inflation in the land of the free is not so phantom though - Chapwood Index shows real inflation in US. In 2014, it was 9.7% - 1212% of official US inflation (0.8%)
http://www.chapwoodindex.com/
Yeppers, I love how all media and the fools at the Fed never comment on the real U6 unemployment rate that has never been below 10% during this Obama reign of terror, and it sits at 10.5%...
Here is just one piece of Public Executive Compensation in the Federal Government which can start to illustrate the rise in Private Executive Compensation Inflation.
- Federal Employment Levels tend to stay the same in terms of total employees, but bonus money awarded probably went up to compete with private industry... Obviously if you manage a lot of money or employees even if anecdotally then your resume and bonus can increase
- Inflation is a constant, but .gov can increase line items just like the telephone company or a utility to spend more money and make the whole thing complicated(Baffle 'em with Bullshit)
Total--OPM Outlays 2014 = $138.63 Billion (What?)
Total--OPM Outlays 2013 = $133.7 Billion
Total--OPM Outlays 2012 = $128.4 Billion
Total--OPM Outlays 2006 = $99.8 Billion
Total--OPM Outlays 2000 = $71.8 Billion
Total--OPM Outlays 1997 = $64 Billion
This doesn't include VA Benefits or Retirement Benefits.
- oops edit: Private Contracts by the Federal Government have exploded since the 1970s... as we saw in Iraq these are basically expensive employees of the federal government, think at least double the cost, but often 3 times the cost since they are experts in areas like high tech... 3 times the cost of .gov employees... we could hire Americans all day for $20 dollar an hour... but we don't even have to pay them that much!
can't even raise it one quarter of one per cent <=> scared sh!tless and clueless
What's really gonna be funny is if they don't raise this year and the bond market comes undone in the near future. Caught at zero with nowhere to go. And the best they could do is more QE which will destroy what's left of consumer spending as inflation rages (more than it is already) in energy, food, etc. If the FED doesn't raise in calendar 2015 it's total seppuku. They will be fully undressed as impotent and irrelevant. I can't imagine how TPTB could keep a lid on precious metals in such a scenario.
This shit is becoming a comedy! Labor markets improving? In what country? Economy expanding? On what planet? This is ridiculos to have such incompetence!
Extend and pretend. That's all.
Great! Another fuckin' vampire movie!!!
WTF - Will anybody (Janet???) ever recognize the basis of the economic slowdown and resource comsumption downturns is all to do with slowing population growth alongside the well known debt created in place of the missing population growth and interest rate manipulation to avoid the interest armageddon.
http://econimica.blogspot.com/2015/07/global-us-population-growth-and.html
&
http://econimica.blogspot.com/2015/06/0ne-simple-chart-explains-great.html
&
http://econimica.blogspot.com/2015/07/federal-reserves-therapy-has-nothing-to.html
And the Fed's actions are completely asisine if it's intention is to "fix" the economy...
Nope.
"dovish" translation: scared like a motherfucker
Lol...great point. The art of bullshit.
Dovish; hawkish; bullish; bearish.
We're fuckedish.
Are there any black folks on the FOMC? OK didn't think so
there was but they had to fire Fiddy Cent when they found out he spent all his money on Dom P and big booty hoes for his music videos. (that last part was an intentional rap).
Bullshit?
Bullish ?
I call Bullshit.
Janet Yellen is worst than Alan Greenspan & Ben Bernanke.
Greenspan would not have had the Nerve for this.
Bernanke was on weak ground and was lying, but he would not have kept these Interest Rates low as his Legacy.
- Action: We need to push about Janet Yellen's Legacy and Reputation... Yellen will have to answer to the Public & History
- Action: We need to make sure that History is Recorded, Preserved, safe guarded, and Backed up some place... so we can have our kids Hold Wealthy Crooks and Government Stooges and Cronies ACCOUNTABLE
- Action: We have to support WatchDog Groups that are Independent and who hold data, history, testimony, and who Educate
Check, check, and check. No wonder they rolled out a grandma figure to administer the castor oil, just a spoon full of bullshit helps the medicine go down.
I met a guy who seems like a ZHer. He sees the cycles of world events and thinks we will eventually see a new world religion since we have such a Corrupt USA. When I think about it he seems right. We need religion or spirituality to deal with corrupt governance like Rome, British Raj, European Monarchs, USSR, Communist China, and US Federal Government Congress & President, Transnational Corporations, Free Trade, TPP, TISA, TAP, TPA, TAA.
Classic.
Grandma Spokesperson.
Black President from out of nowhere or from Chicago Political Machine.
EU seems made of the same flimsy stuff.
Bullshitish.
There fixed it for you.
We will start raising rates as soon as everybody has three part time jobs instead of two . We promise.
The failed fed experiment will default before raising rates, haven't said that before.
The FED is so good to me ... /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc /sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc/sarc
with the creation of a few more service industry jobs, US household consumption growth will double and we'll be ready for rate lift-off yall!
Nothing like burger flipping jobs to fill the trade gap./sarc
i am jack's complete lack of surprise
Interesting article which discuss if soft skills can improve investment results http://www.decisiveinvesting.com/blog/emotional-control/is-trading-psychology-for-gays-only
I TOLD YOU!
They cannot hide the depression if they raise rates.
Young fool.
Labor Slack? Explain that to the 40 Million unemployed American People & the 19% unemployment rate ypu vermin scum FUCKS!
Exactly, the idea that labour slack will dissappear anytime soon is complete nonsense. This could go on for at least the next 5 years, if not longer, as the economy just sucks that badly outside of a few sectors which seems to be in bubbles now slowly deflating (housing, tech, bonds).
they're never raising rates again. period.... end of story
Compelling political reasons not to, however maybe in a crisis the could... or if the had the cover of WW III.
I just can't imagine the crisis that the would need... maybe sovereign debt crisis, currency crisis, domination be Chinese, losing a war, European countries pulling their money out of US Treasuries, BRIICS World Reserve Currency that pulls in 50% of Europe's US Treasuries, if the USA Abandons Philippines, Japan, Thailand, Vietnam, Cambodia, Myanmar, and Korea to the Chinese?
Total--Interest on the Public Debt, Table 5 Monthly Treasury Report
2014 Total--Interest Public Debt = $429.568 Billion
2013 Total--Interest Public Debt = $415.670 Billion
2003 Total--Interest Public Debt = $318.149 Billion
2002 Total--Interest Public Debt = $332.537 Billion
2001 Total--Interest Public Debt = $359.508 Billion
2000 Total--Interest Public Debt = $362.118 Billion
1999 Total--Interest Public Debt = $353.511 Billion
1998 Total--Interest Public Debt = $363.824 Billion
The rate at which they promise to raise rates will increase however.
Well who is going to downgrade the financial ratings of the world Superpower?
Moody's?
No valid Financial Ratings, then no Change. The Fix is in.
Same old diarrhea.
Paul Craig Roberts called this one right on the money. They can't raise rates. They just can't.
No Political Will without Crisis or Support from the Wealthy.
I might differ with PCR in this one point.
Change is a constant except where the status quo is concerned. We have to adapt quicker and quicker and handle more and more information every week.
But a crisis is the tool of the Elite.
Its not that Mr. Roberts has unique insigt; everyone knows they cant raise rates.
Except the small investor? And people living on fixed incomes? And the mainsteam media? I think Putin got it right on this subject. Something about "fairytales".
The media doesnt think they will raise rates. in fact, they dont think at all. The media publish what the FED tells them to publish, which is "The FED will raise rates". Think of the media as Ron Burgundy.
More like "Baghdad bob"
Yup. Its amazing how many even highly educated people have believed the Fed rate hike propoganda, when it was so blatantly obvious that they have no intention, nor reason to raise rates whatsoever this year, and probably not next year either as the latest transitory bubbles (tech, RE, bonds) roll over.
Fixed income people have done excellent in the low-rate, low inflation environment, especially with the huge capital gains on fixed income due to the low rates. Same with the 'small investors'. Not sure why not raising rates is a surprise to anyone. The economy is incredibly weak at this point and deflation is likely understated.
Gold pops through $1100, immediately stuffed back. Good luck with that, assholes.
But all the "experts" said rates would rise this year. As I've said before FED will hike rates in the 3rd quarter of 2000 and never. If I'm wrong I'm thinking .125% at the most before QE 4ever begins.
You are an "expert" in the US depending on who signs your paycheck.
Knowing full well that there will be no rate hike -- I do not think the addition of one word "some" is dovish. perhaps even the opposite. Of course, they probably know that the employment worm will turn before September anyways.
Fuck Cankles, the rosy-cheeked pillsbury dough-girl.
The fed the last 7 plus years- ''hey guys, the economy is improving significantly, the labor force is getting stronger and stronger, there is no inflation, no bubble, companies are producing record profits, yet we still can not raise rates even .25 .''
BASICALLY FUCK THE FED, LYING SACK OF SHITS. IF ONLY SOMEONE IN MSM HAD THE BALLS TO CALL THEM OUT ON THESE LIES!!!
They are all on the same team. They are on the "them" team. as in us vs. them. Its a club, and you aint in it.
Yeah, the MSM, all the media with big capitalization or market share... they are in the CLUB.
Monopoly Power.
Teddy Roosevelt could rise to power again today on this Issue... Maybe Donald Trump will grab the Brass Ring and start talking about the Media Monopoly once he gets Past Republican debate time.
- Maybe Media Monopolies are the Third Rail of Politics
- Maybe Anti-Trust is the Third Rail of Politics since the money is coming from Corporations
- Maybe Term Limits is the Third Rail of Politics Blah Blah
- Maybe Gift Giving & Money in Politics Blah Blah
- Maybe Referendums Blah Blah
- Maybe Taxation without Representation Blah Blah
Americans we are in Crisis today. It is with a Sad heart that I come to this Podium. The Motivations of Politicians are only self serving in Washington DC. Here we see only corrupt Rome. Where is the logic of our representatives? Why is the status quo so ugly. Why are all politicians firmly for the status quo in a nation of liberal business, banking, finance, auditing, financial ratings, and conflict of interest?
Why America?
There is no Ethos in Washington DC and worse than that the hiring of cronies is Epic now, and serves some terrible purpose. We would be better disallowing presidents to hire cabinet members and secretaries. The system is broken and totally political. And sadly the situation is true in the Military as well. We are a mixed people with many ideas and ethos. Some how we just forgot the most important Principals and now hide behind words of politics whether progressive or conservative. No one is as they seem. Liberal practices in business and government are today "Boondoggles" of corruption.
Please take the time to look for conservative practices that should be in place in Government & Business and listen closely to see the real "Truth".
"And so the confusion continues..." Only for anyone who believes the Fed will ever raise rates.
They can and they will, raise rates, then you'll see another massive transfer of wealth as distressed assets and hard assets go to those with large war-chests of
fiat burning a hole in the circuit boards of the Fed's reserves, ready to be deployed.
Not in a soft economy, that's left field bleachers, talk.
You are probably right, (Imuhnutjahb) however I think they will raise rates at some point, if only to lower them again. When they do, assets will be scooped up at firesale
prices, just as credit boom/busts have been front run for ever and anon.
Ringo Yellen was tempted to raise rates after learning that Hitlary's $600 haircut was an strong indication of inflation. She was overheard telling an assistant, "$600 for a fucking haircut? Are they transplanting her pubes on her head?", to which the assistant replied, "That would make her look like a white haired Don King".
They used her backhairs as sideburns, now she's the lovechild elvis and don king never had.
Like I have said before and will keep saying... the Fed WILL NOT RAISE RATES UNTIL OBAMA IS OUT OF OFFICE! They have to protect him!
If Ted Cruz or some other conservative gets in... then you will see rates skyrocket.
BS. TPTB don't care which party is in. As long as the puppet is from the selected pool. Which is why they are trying to stiffle Trump.
They care if a Keynesian or an Austrian get in. They have tied their horse to the Keynesian wagon and it is NOT in their interests to see Keynesianism repudiated. Rest assured, the Keynesians in the Fed will do everything in their power to protect their legacy. Blaming the economic outcome of their policies on an Austrian, by causing a collapse when an Austrian is in, fits their Modus Operandi perfectly.
QE FOREVER UNTIL WWIII.........
If there was indeed any person that sincerely believed the un-fed was going to raise rates or will raise rates, they completely clueless!
AIN'T GONNA HAPPEN!
ALL this does is bring volatility to the Forex market every time this bitch speaks.. BLAH BLAH BLAH.. I love volatility that is were I make $$$.. The feds eventually will raise rates microscopic proportions or else DOLLAR collapses!! IF they raise rates now economy collapses.
Low rates are good for the dollar. High rates are what will kill the dollar eventually.
you right are right PITZ
exactly
They know that raising rates will precipitate implosion. But they don't need to - as long as the people who still believe in the existence of a 'market' believe that they eventually will raise rates, the effect is the same. Moreover, as long as they can feed the algos the Fedwords needed to prevent reversion to reality, they will keep playing the game.
Watch a chickadee,sparrow or other similar bird fly - they only flap their wings frequently enough to maintain altitude. The Fed is doing the same - just inject enough hope words and the sternum stays aloft. And CNBC gets to make up a bunch of reasons why.
In June they said they would likley raise rates in September...
In September they will say that they will raise rates in December...
In December they will say they will raise rates in March....
In March they will say they will raise rates in June....etc, etc., etc....
THEY WILL NEVER RAISE RATES AGAIN!!
The Fed still has NIRP and people might keep their dollars at the bank still. You gotta keep your monies in a bank, you know, because it's safe.
:)
Using the U- 6 metric one could figure the Fed will never raise rates.
most simply have no clue to U-6. Isn't that a band from Ireland?
It's a submarine that got sunk in 2008.
Complete fruad!! The Fed doesn't give a shit about the economy...as all it's pronouncement have but only one intention - to obfuscate! They do, however, know exactly what they are doing and that is to transfer the remainder of the wealth of the moribund middle-class to the coffers of the Oligarchs. Markets can't respond rationally because they are captured by the same sham "authority," the Fed. Enough with these criminals already!!!
Judging by the market exploding ever higher I take it free money on the back of a bad economy is just what stocks were hoping for.
Central bank intervention: the only fundamental that matters.
So basically for 54 months these criminals have been paid to do NOTHING. And will continue to get paid to do NOTHING. END THE FED !!!
Sometimes "doing nothing" is actually doing more than actually doing stuff that may be more harmful. If anything, the problem is that they aren't being aggressive enough in providing stimulus. Should have cut the rate by 25bp given how weak the economy is.
only 4 of 10 are Jews?
http://www.federalreserve.gov/monetarypolicy/fomc.htm
a group that's 2.5% of the pop is only 40% of the board?
Outrageous!
of course, 3 jewish chairs in a row, and some say fischer, the israeli zio-pig is the power behind the jowls
---
...
...
"Whatever the real motivation for Fischer's sudden, inexplicably rushed insertion into the Federal Reserve, it is also worthwhile to note longstanding Fed policies have correctly considered U.S. citizenship to be preferable for at least one key position, "because of the special nature of the supervisory function, the need to ensure confidentiality of information, and the delegated nature of the function." Unfortunately, that policy preference covers only Fed bank examiners rather than top leadership—the Federal Reserve Act is silent on the wisdom of installing a revolving door for returning U.S. citizens who took on dual citizenship as a condition of serving a foreign government.
AIPAC, Fischer's co-author of harmful U.S. economic policies on behalf of Israel, likely sees the Fischer appointment as an important test case to assess American tolerance for openly dual Israeli-American citizens running key U.S. federal agencies. In 2009 former AIPAC research director Martin Indyk, who was at the center of AIPAC's research division during the FTA push, said that "the US-Israel Free Trade Agreement served as a wedge that opened up the Congress to free trade agreements across the world, including the NAFTA agreement." Likewise, if Fischer can be "wedged" into the Fed, it begs the question of why former Israeli ambassador to the U.S. and historian Michael Oren could not someday lead the Near East division of the State Department. From AIPAC's perspective, having qualified Israelis directly run key divisions of the U.S. Treasury such as Terrorism and Financial Intelligence, rather than indirectly through AIPAC-vetted appointees such as Stuart Levey and his hand-picked successor David Cohen, could probably boost the volume of taxpayer give-aways while improving coordination with Israel. Given AIPAC and Israel's overly large influence on U.S. military initiatives in the region, the lobby may now feel the moment is right for appointing Israeli generals into the Joint Chiefs at the Department of Defense. This, AIPAC may well reason, would be much more convenient than constantly arranging visiting Israeli military and intelligence delegations that increasingly serve as sole briefers (rather than DoD or the American intelligence community) of members of the US Congress.
Soon after word of his Fed nomination spread, Fischer again made uncharacteristically harsh statements about Israel at an NYU Law School forum. As reported in The Jewish Week, Fischer told the audience that Israel is not seeking peace "to the extent that it should" and that it is "divided between those who want to settle the West Bank and those who seek peace." Fischer—who had every chance to pull U.S. and Israeli financial levers that could have forced Israel out of occupied territories or forced compliance with International law—never did. Adding to suspicion that the statement was simply more empty "lip service" aimed at building popular support among Americans tired of war, was the reporter of the quote—former AIPAC lobbyist Douglas Bloomfield. In 1986 Bloomfield was grilled as a key suspect (PDF) in the 1985 FBI investigation of AIPAC for espionage during the FTA negations
If Americans were ever polled on it—and they never are—the majority who now object to increasing aid to Israel would also likely object to quasi-governmental and governmental positions being staffed by people who—by citizenship or sheer strength of identity politics—are primarily occupied with advancing Israeli interests rather than those of the United States. It is obvious that the real reason AIPAC and its economic luminaries such as Fischer never substantiate any of the advertised benefits the U.S.-Israel "special relationship" delivers to America in return for all of the costs is simple—there simply aren't any. As greater numbers of Americans become aware that the entire "special relationship" framework is sustained by nothing more than Israel lobby campaign-finance and propaganda networks, the harder the lobby will have to work to forcibly wedge operatives like Fischer into positions where they can thwart growing public opposition—whether it takes the form of boycotts or grassroots opposition to the U.S. fighting more wars for Israel. In the very short term, Americans can only fight such undue Israel lobby influence by again—like during the drive to attack Syria—staging a mass action to demand their senators reject Stanley Fischer's nomination."
http://irmep.org/fischer_aipac.htm
Is it time for the final solution then Delicate?
Well, with a minimum of 12% unemployment (per Shadowstats U6) and possibly twice that (again, per Shadowstats), and inflation at between 7.5% (Shadowstats) and 12.5% ( from the other website that my feeble old mind can't remember), I'd say the Fed is fucked. We're, at best, in Jimmy Carter's stagflation and, at worst, in Great Depression II. Printing money with no discernible results for production of goods or services is going to cause inflation. You can mask it by lying with the statistics, but anyone who goes to a supermarket sees it. Anyone who buys insurance sees it. Anyone with half a brain sees it.
That's why the Fed pretends it doesn't see it.
Moreover... under counted inflation translates in to over counted GDP. How much of what we have been told of that less than 2% GDP growth, is actually under counted inflation?
IMO a White Earth, Wind & Fire would not increase cock sucking, but would help the conservative movement.
Wall Street & Deregulation often is LIBERAL not conservative... we could use some Reporting on the Deregulation or Non-Regulation of Industries like Banking, Energy, Utilities, Communications, Satellite Spying, Cable Spying, and local Facial-Voice-Cell Tracking.
TV
*FED: RATE TO RISE AFTER `SOME FURTHER’ JOB MARKET IMPROVEMENT
Official US Unemployment rate 5.3% in June http://data.bls.gov/timeseries/LNS14000000
If the FED waits a bit longer the labour market might get overheated LOlz