This page has been archived and commenting is disabled.
Dudley Just Killed The Rate Hike: "September Less Compelling; I Hope We Can Raise Rates This Year"
Goodbye September rate hike. From the much anticipated Dudley Q&A:
- DUDLEY: CASE FOR SEPT RATE HIKE LESS COMPELLING
- DUDLEY:INTNL DEVELOPMENTS TIGTHEN FINL CONDNS, MAY HURT ECON
- DUDLEY: RATE HIKE CASE COULD BE MORE PANICKY BY SEPT FOMC
- DUDLEY SAYS INTL DEVELOPMENTS HAVE RAISED DOWNSIDE RISKS
- 10:36 08/26 DUDLEY: HAVE TO CONSIDER INTNL DEVELOPMENTS; CAN AFFECT ECON
Transitory:
- DUDLEY: EXPECTS DOLLAR, OIL EFFECTS TO BE TRANSITORY ON U.S. INFLATION
On inflation:
- DUDLEY: LOW INFL APT TO BE TRANSITORY
Because it is only a matter of time before the money paradrops begin?
- DUDLEY: US DATA GOOD, BUT CAN'T JUST LOOK AT DOMESTIC DATA
Yes, have to also look at domestic stocks. Oh but wait:
- DUDLEY: I DON'T HAVE A VIEW ON WHY THE STOCK MARKET IS DOING WHAT IT IS DOING
- DUDLEY: STOCK DROP HAS LITTLE S-TERM EFFECT ON U.S. ECON
And the punchline:
- DUDLEY: I REALLY HOPE WE CAN RAISE RATES THIS YEAR
But the markets won't allow us.
TSYs jumping on the news, USDJPY dumping on USD weakness with stocks shocked, and waiting until the algos reverse the correlation trackers so tthey can push stocks higher on a weaker dollar, resulting from this latest admission of Fed policy failure.
»
- 15268 reads
- Printer-friendly version
- Send to friend
- advertisements -
Here is my surprised face.
From this angle your nose looks kinda like a nail gun...
They sure TALK a lot about raising rates, but they will never actually raise rates.
Regards,
Cooter
Translation: There may not be a rate hike in September
BUT.. Inflation will be back soon so expect a rate hike in October.
Duh
banger,
Your record of predicting rates hikes has been perfect...
So far; you've predicted about 13 of the last 0 rate hikes...
Said the Algo: Wait, what?
THE FERAL RESERVE WILL RAISE RATES SOON NO MATTER WHAT!
So there!
YOU MOOKS...!!!
Thank you..
"SOON."
You keep using that word, I do not think it means what you think it means...
On a long enough timeline all data points are soon.
Inflation will be Fischers main subject at Jackson Hole.
and with no inflation no rate hike.
Mouth of the FED Jon
http://www.wsj.com/articles/central-bankers-to-confront-stock-market-tur...
Overheard at FED meeting:
"OK, the rate increase nonsense no longer has any traction. So the new kabuki is 'QE or no QE'. You've been given your assignments as 'doves' or 'hawks'. Make sure your talking points match your assignments, OK, people? No need for any unplanned melt-downs or melt-ups.
I've got a call into the media......."
Sounds just like Tsipras. Does Dudley wear a tie?
I wished it was of the Columbian variety!
I ~still~ keep confusing it for a ski boot.
US data good??? IS he dumb or is he dumb?
Square is circle.
Is Suzy Ormond fukking Bill Dudley?
If she is, Janet Yellen is watching from the corner of the room. Janet keeps thinking they'll invite her to participate... but no. They never do.
Okay, now that's just downright creepy...
Sick fantasy
He's just jawboning the economy gas meter (markets) up so the banks don't have to pay interest on savings.
Have to keep the dream of "home ownership" alive for the N.A.R. and the children.
The perception of worth and retirement so much more important than reality.
Got to keep the hamsters on the wheel!
Exactly.
Translation: "We have borrowed so much against the future and incurred debt so vast that it can never be paid back. The best we can hope for is to service that debt. And since we know mankind has no future, it isn't credit-worthy collateral anyway..."
"Here is my surprised face"
Excellent!
Ya nailed it, I tellya, nailed it!
He moonlights as the little known superhero:
Captain Obvious.
"More panicky". What is he, 6 years old?
See? The Fed won't do shit! They are doing nothing, on purpose.
They're doing nothing because they have no other choice...
Eat an iPad and STFU!
"DUDLEY SAYS INTL DEVELOPMENTS HAVE RAISED DOWNSIDE RISKS"
Translation: My dual-passport holding and highly levered Boss says 'No.'
The FED is so fucking transparent and predictable.
No rate hike for years as US debt is just too high to tolerate a rate hike. Federal debt and unfunded liabilities are over $1,720,000 per taxpayer
By comparison, Greek debt is $65,000 per taxpayer
No rate normalization during my lifetime Bernanke
"And the punchline:
Yes, have to also look at domestic stocks."
That's so absolutely dead-on it it literally hurts. There has been NO meaningful downturn in economic data the last 3 days (that will come later). But apparently they're going with the "we need to manage the world, not just the US" excuse route.
They have been managing Asia and the EM so splendidly.
No. Been in a cave all summer enjoying the quiet and darkness.
..What'd I miss??
Nothing that anybody will care about in a few years. We'll all be looking for a nice cave to live in, too.
"Less compelling"? Someone replace his vocabulary chip.
Heroes aren't made when things are going well.
It's all China's fault
http://thesaker.is/ukraine-sitrep-august-26th-2015-by-scott/
Excellent quote here, sam i am, from The Saker:
“Another Quantitative Easing (the Federal Reserve buying up the market and Corporate buybacks) to keep the market up would finally and completely expose the game for what it is – the fiscal plundering of America.
“I really wish that markets could stay up for a little longer, though. The main reason is this public embarrassment is pushing the US government and local corporate media to search for more enemies. They have already placed the blame for the crash on China. I am confident they will find the way to blame Russia also.”
Thanks.
we all know that there will never be a real rate hike in our lifetimes.
if the fed was smart ( which they are far from) they would go ahead and raise rates in september, bc the ''market'' is already collapsing on its own, and maybe some sheeple would believe the fed did not bring the collapse upon us.
Transitory. I've missed that word.
Cry me a River, u get what u ass For! Bring back are jobs!
Can someone please tell the Fed that that Stock Market and The Economy are not one and the same?
http://thevillageid-vestor.blogspot.com/2015/08/the-stock-market-is-not-...
Oh well. Bring on the rate hike. Bring on the Stock-pocalpse!
CNBS Liesman pushes back by stating ' it's less ' likely on the table ' than it is off it. lol.
Lets face it, when they do hike, the markets will BREAK !
Needed that EURUSD spike, up and away...........
This is as boring as Greece
China,
Thanks a hundred billion for the sword-dive; we were getting really worried about needing to crash it ourselves.
Dudley DoWrong
How totally f@#& are we if the U.S. economy cannot even handle a 0.25% hike !
THE GOD DAMN PLANE HAS CRASHED INTO THE MOUNTAIN!!!
I'm shocked, SHOCKED to find out there's gambling going on here...
And the punchline:
• DUDLEY: I REALLY HOPE YOU BELIEVE WE STILL HAVE CONTROL OF INTEREST RATES.
*Ba-dum tss*
Well, the market got what they wanted... I guess the Dow will shoot back up?
I think two things may be weighing on Fed policy makers that they aren't talking about:
1) Reverse "wealth effect". With financial markets in turmoil, correction, or bear, consumers may tighten spending for the rest of the year, contributing to a slow down.
2) Loss of capital gains revenue for 2015, causing the treasury to have to issue more debt, in an environment where large holders have reduced their appetites and in some cases ( http://www.zerohedge.com/news/2015-08-25/devaluation-stunner-china-has-d... ) are actually putting more back onto the market.
You know, there are times when some people are really worthy of a second look. One is Schiff, who admittedly has been wrong (or too early) about things, but stands out in my mind as the one who has repeatedly declared that the FED can not raise interest rates. He has taken a beating, but might still make a comeback.
Out of the blue, Jimmy Carter comes to mind, and who despite being a weak president, presiding over inflation and the greatest statistical misery index, somehow looks better and better in my mind for his decency, honesty, humility ( and even with metastatic melanoma, still trying to teach Sunday School) when you look at the Clintons, the Lerners, Holders, the Blackfeins and all the creeping, slimy, scum that crawls over the earth these days.
Historical revisionist... I do not buy it!
Where's the massive ramp that normally accompanies FOMC news breaking to the dovish side?
Why can't one of these fuckers ever tell the truth?
I'd love to see one of these assclowns come out on TV and say, "It's all a big scam. We're a skimming operation, just like the mob. We could raise rates, but we'd just have to lower them again."
"Keep paying those taxes, folks, we love your fake money. Thanks for playing."
That would make my day, if not my whole year.
If you're president Xi, and you're monitoring this 'Paper Tiger' - perhaps lying in wait for the opportune time to --- fill-in-the-blanks... What level of dis-credibility do you wait for...? If you're dumping $100B in a period of 2 weeks, is there now incentive enough to GTFO in a much Bigger way on a much shorter horizon...?
"...and waiting until the algos reverse the correlation trackers so tthey can push stocks higher on a weaker dollar, resulting from this latest admission of Fed policy failure."
Great catch there T. That's precisely how it rolls...
• DUDLEY: MY STATEMENTS HAVE MINIMAL CONTENT
DUDLEY: I REALLY HOPE WE CAN RAISE RATES THIS YEAR
Hey shitface....nobody is stopping you...
OMG! LOL moment. Thank goodness I was not drinking something or I would need a new keyboard
Ya know, it might be better to just do the rate hike rather than just yapping about it. Rake hike, QE4, or just shut up. Credibility gone in 3....2....1
Good Times!... Good Times!... Jerri Blank -Strangers with Candy
"We'll do it next month" is about to become the Fed's catchphrase.
And I am supposed to what? Believe this crap???