Atlanta Fed Explains Why It Waited Until The Market Close To Reveal The Lowest Q4 GDP Estimate Yet
As we noted earlier, the Atlanta Fed waited until the market close to reveal its most dire GDP estimate yet: a paltry 0.6%, matching the 0.6% recorded during the "harsh winter" first quarter: one could be forgiven to think that during today's already chaotic selloff, the last thing traders and algos needed was news that US economic growth had ground to a virtual halt in the quarter in which Yellen decided to hike the interest rate.
Moments ago the Atlanta Fed was kind enough to explain the reason behind this surprising delay for a report it usually releases before noon. The answer: "technical delays" and "nothing nefarious."
@zerohedge Apologies for the late-day data release. Nothing more nefarious than technical difficulties, which we believe have been resolved.
— Atlanta Fed (@AtlantaFed) January 15, 2016
Thanks for the explanation.
(49 votes)
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This brings to mind a saying. Never believe a conspiricy theory until it has been officially denied. The FED reads Zerohedge. We knew that, but confirmation is still quite impressive.
The Fed apologizing? That would imply they give a damn!
You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.
Abraham Lincoln
Several of their operatives, upon hearing the news of the Savage market crash, decided to JUMP!
Unfortunately, their office is in the bottom of a bi-level building, and they actually had to take the time to CLIMB UP and out the windows.....?????
Van Halen: JUMP!
https://www.youtube.com/watch?v=iKSyYGJHOGA
I'm so glad that a consortium of unknown banks are controlling the US economy and the world.
/sarc.
Ooooooootaaaaaay guys.
They hinted at being criminals. That's rich.
Great choice of words.
Nefarious (adj.) c. 1600, from Latin nefarius "wicked, abominable, impious," from nefas "crime, wrong, impiety," from ne- "not" (see un-) + fas "right, lawful, divinely spoken"
Is there really nothing wicked, abominable, impious, unlawful or criminal going on at these corporations?
A FOIA request should provide further entertainment. ZH would qualify for Expedited Processing.
http://www.federalreserve.gov/foia/request.htm
I recently contacted my bank regarding a $10K 6 Month CD. I laughed in their faces. Yeah...I lock up 10K cash and get less than $20 after 6 months. I asked the guy if he was embarrassed and he said he was. He should be. What kind of finanacial product is that? There just are not that many people who call up their bank and inquire about locking up $10K in a CD to any US bank and that is all they could come up with. That just won't work for me.
I am right back to my metals...again. Precious or ferrous. I am not a stawks guy. I am not a fund guy. I am not really a bonds guy but lean that way. No, it is just physical PM for me and I am good at doing it to an extent. I just do not see anything else there to invest in. Please consider the transaction fees and then the taxability on such trades. I am not sure how you guys do it or if you even do it.
I have been sideways for a couple of years now and that is not good. Well, silver is a wicked market and always has been. According to Coin World, there was a record 48.55 million one ounce Silver Eagles sold in 2015. 2014 was the previous record at 44 million one ounce Silver Eagle coins. Yet the price flaked out on us. How can demand be so strong and yet have a declining price? I think we know but we didn't see any backwardation. There were shortages of planchets from time to time. Wouldn't it be nice to be a primary dealer?
Well, here is what we do know. In 2009, the demand for US Silver Eagles was so great that they did not produce any proofs that year. File that under "I didn't know". Here is more. Total sales to primary dealers for July 1987 and September 1994 US Silver Eagles was zero. Not many people know that fact. DYODD.
"Technical Difficulties"
LOL.
Couldn't find the "Any" key?
Lol, it is @zerohedge? We already knew they read it.
Hell, they could be some regular post.
Please fasten your seltbeats. We are expecting some minor turbulence.
It's not a crime if your DOJ does not bring it up.
"No controlling legal authority"
Eric Holder esq.
The fed can and will do what the fuck it wants..got it?
oh you say congress can audit the fed?
audit the body that allows all your debt spending to provide the voters with free shit?
next?
Well thank goodness SOMEONE is paying attention Tyler(s)... to an organization so many of us wish did not exist in the first place.
Funny that they gave ZeroHedge that excuse right after ZeroHedge had technical problems of their own.I guess The Atlanta Fed is to stupid to release information the old way.It's called paper and a speech.
I think even if FED responded "we wanted more time to manipulate more" - nothing would change.
Sure - we d be excited here at ZH, but until it is in the NEWS in ALL MsMedia outlets for a week or so - nothing will change, 90% Americans - DONT CARE.
I have a business and employ a number of young people. The other day we were talking and they asked what the first thing I wold change would be in America. I said "end the fed". Not a single one even knew what the Fed is or does. These are all millenials.
Tough road ahead
'Millenials' may become the new catch word for 'full retard'.
As a millenial walking this earth, I can tell you, there's probably a lot more of our internet generation familiar with the "End the Fed" idea than the older generations.
And as for the youngins in Berspankme's presence, you should educate them rather than denigrate.
"educate them rather than denigrate"
You are exacly right, honey works better than vinegar. They are the most likely to listen if they don't know about it already. It makes a lot of things that trouble them make sense.
The "technical difficulties" began with a phone call. The "technical difficulties" were resolved with a phone call.
They know exactly who ZH is and they prolly have a ton of people posting on here.
For some reason MDB comes to mind!
Hashtag WINNING, zerohedgers
30 points of PPT in the SPX needed before after-hours release.
If you use the REAL inflation rate (See John Williams' web site www.ShadowStats.com), as inflation was calculated BEFORE 1992, the REAL inflation rate is much higher! And since one must adjust the nominal GDP by subtrating from it the REAL inflation rate, we have had a NEGATIVE GDP for several years..
I an a surgeon, not an economist. But I know BULLSHIT when I see and smell it.