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The Fed's Failed Communication Strategy - More Than Half Of FedSpeak Is "Not Useful"
Having recently shown The Fed to go 6 for 6 in a day of FedSpeak failures to spark animal spirits, it appears this is actually not so unusual for some members of The Fed. As WSJ found, when it comes to watching the Federal Reserve, it’s a good idea to keep an eye on Atlanta and San Francisco but for 9 of the policy-makers, economists rank their 'FedSpeak' as less than useful... with soon-to-be-replaced Kockerlakota the least useful Fed speaker of all...
But, as The Wall Street Journal reports,
Public statements by the 17 policy makers who participate in Federal Open Market Committee discussions are closely watched for clues to the likely course of central-bank policy. But not all speeches are equally helpful for Fed prognostication. Some officials speak from places near the consensus-driven committee’s center, while others air personal views that are at odds with the Fed’s likely course of policy.
Even sophisticated Wall Street traders often are tripped up—making trades that briefly move markets on the basis of remarks from officials with little influence or little indicative value.
To help cut through the cacophony of voices, the Journal surveyed 42 private forecasters on how useful they found individual officials’ public remarks as they gauged the course of Fed policy.
The red shaded region is Fed members who are less than useful
Toward the bottom were two freshly minted Fed presidents, Robert Steven Kaplan of Dallas and Patrick Harker of Philadelphia. Both officials took office this year and neither has yet staked out public positions on monetary policy.
Ranked last was the Minneapolis Fed’s Narayana Kocherlakota. He is set to retire at the end of the year after a tenure that saw his monetary-policy views undergo dramatic evolution; he went from dissenting against Fed stimulus efforts to becoming the Fed’s most vocal advocate for even more stimulus.
He speaks frequently on monetary policy, but that hasn’t translated into influence. “I wish I had done a better job,” he told the Journal earlier this year. “I think we’d be better positioned policy-wise if I had done a better job of being persuasive.”
Mr. Kocherlakota will be succeeded Jan. 1 by Neel Kashkari, the Minneapolis Fed announced Tuesday.
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We suspect the red shading will drift further and further to the left as fed credibilty disappears as December looms.
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Is any of Fedspeak useful...!?
Fed Peaks, re-arrange the letters and whalla, there's your clue
Ped Feaks...dammmit, can I buy a r for $250 Pat?
more than half of government in general is not only not useful , but very harmful ! and yes I fully realize the fed is nit really any gov entity exactly ? but surely a quasi agency for the banks that operates with gov approval and full cooperation
We missed you, Boris! Welcome back!
Manure is more useful.......
Manure if correct application is useful for nutrient of soil.
Fed Speak, on the other hand, is only useful for the nutrient of banksterz pockets.....
<-- Fedspeak entirely useless
<-- Fedspeak not useful
Its what happened to the boy that cried wolf? No one fucking believes him anymore? And the wolf is coming. They must have missed that day in Third Grade?
Dear Uncle Janet Yellen.
Wait until they figure out de Bruijn sequence being run on Wallstreet HFT platform.
http://mathworld.wolfram.com/deBruijnSequence.html
You and the other's are fucking toast. No lies can dig you out of this trouble.
When Kash (and) kari speaks, people will listen.
When Neel Cock-Sherrie talks his GS shpeel, we will alll be impressed and the markets will hit new highs....
Neel Kashkari -- the "$750B seems about right" guy. Of course he's got a job lined up at a Fed branch.
Has Kashkari finished building his log cabin in the woods ?? That story was a real tear jerker.
Jan Yellen. The most interesting man in the world.
He invented naked shorts and NIRP skinny dipping. He can slam a revolving door.
He doesn't often drink beer, but when he does, he prefers Dos Equi(tie)s.
One only has to look at the backgrounds of the advisors to the US Gov and Military to understand that the common underlying theme of their advice is to favour Israel at any and every minute detail within the scope of their duties.
Neel Kashkari is the next endorsed Rockstar to eradicate non-compliance voting positions.
EBN - Don't back down
The matter of fact, I speak much better: buy, buy, buy
FUCK YOU, FEDSPEAKERS!!!!!!!!! BASTARDS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Janet Yellen's therapeutic ocean wave sounds replaced with this sound track on repeat.
Public Image Ltd.- Albatross
Sure we're bastards. Just helping the uniformed. How is the 69 sexual intercourse sessions with Lagarde working out?
You still have to fill those One United Nations subsidized hotel apartments. How many empty floors are occupying the United Nations building again?
http://www.un.org/Depts/OHRM/salaries_allowances/allowances/rentalsu.htm
One question, how many SDR's does it take to cover property taxes and maintenance cost? New York Office, of course.
tough coming up with new lies to steal more money