Here It Comes: New York Fed President Says "If Economy Weakens Further, Would Consider Negative Rates"
Remember when the Fed's dots - less than a month ago - suggested there would be 4 rate hikes in 2016? Ah, the memories. Well, you can not only forget that (now that the market is estimating the next rate hike will come in October if ever), but it appears that the Fed will follow Kocherlakota's advice after all and not only cut rates (the possibility of a January rate cut now is 10%), but will pass go, and collect negative rates:
- DUDLEY: IF ECONOMY WEAKENED, WOULD CONSIDER NEGATIVE RATES
After today's atrocious, recessionary data, one can be certain that the Fed is furiously considering negative rates.
While the comment came from the Dudley Q&A, his full speech can be found here.
And just to add confusion, here is a spurious Bloomberg headline which will hardly aid matters:
- YELLEN SAID IN 2010 JAPAN-STYLE DEFLATION `WORST-CASE SCENARIO'
So both NIRP and more QE, just as anyone who is not a tenured economist or drama major predicted.
(20 votes)
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The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
True that. What we need is to abolish this criminal, meddling cartel and let the market work. The Federal Reserve must be eliminated. That is the only solution that has a chance of working. Negative interest rates? Call that what it is: the end of the value of money. Congratulations, Fed: Your experimental incompetence ruins American lives.
Yet the most recent iteration of the Audit the Fed bill just died in the Senate. There are so many guilty parties in DC that it's hard to keep this secret combination secret much longer. When the sheeple, what's left of them, realize how they've been hornswaggled, oh, the weeping and wailing and gnashing of teeth!
You could set your watch by these crooks!
Max the credit card and buy food, ammo and tampax
easy to get excited in times like these. please - stay calm and remember: sticky side down.
The dot plots - were bullet holes.
All your deposits are belong to us.
Make your time ... deposited withdrawls now, people!
That was fast, only a month after rate hike.
NIRP is the Federal Reserve’s final failing grade. All should be forced to resign.
more dups... sorry
The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
I (some number here)..licated myself.
The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
dup
"I just keep saying the same thing!"
"Yes, sir."
dup...
The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
Negative rates after interest rate rise?? That means you are slappying yourself in front of everyone.
The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
That's why you should post this multiple times.
/s
The last thing we need is the Federal Reserve coming to the rescue after this falls to pieces.
Ok, stop that. No. Really.
That's far more than two hoots, sir!
There is a glitch in the Matrix...
Ghost in the machine.
https://en.wikipedia.org/wiki/Ghost_in_the_Machine_(The_Police_album)
So he is admitting that the economy is not doing well. Really, it is crazy why does not someone fire that guy for proposing such things like this...
yes -20 %, that should fix it
Got to keep stawks up at any price, f*ck main street
.
If YOU don't make your savings work for us, WE will make YOUR savings work for us...perhaps Bernie is the right President for this new world.
Markets should be soaring after a comment like that....but they aren't!
And what have near negative rates for YEARS done???
I do know one thing. When the collapse happens ZeroHedge servers will not be there to let us know.
and that is how you will know :-)
Internet kill switch. How convenient.
Pitchforks and torches.
Jawboned outta FAZ at $55.10 for about +18% between two spins. Covered DB short at $21.12 from 29ish combined entries. Probably wrap up the week.
Got Spoos aiming at 1830ish and Russy to 975ish but between now and that who knows what tricks they pull so I'm out for now. 1620ish still intermediate.
Any pockets of wealth are targets for the blood-sucking devils. I hear this breed of vampires is allergic to silver and gold.
silver bullet should work
ZH's prophecy coming true?
Delays everywhere this morning. Fed in panic mode
refi into a negative mortgage rate ..yeay!!!!
The FED will never admit is has totally fucked up. They will try anything, now matter how crazy, to avoid having to own up to the fact that they do not deserve to run ANY bank, much less the FED.
Fed is tightwalking a precarious line between continued, out of control deflation and a bank-run induced hyperinflation.
One of the problems with fractional reserve banking is that it doesn't take much of a panic for things to run away.
double post.
Fucking nirped, bitches.
That is all.
Another story of why you should be turning any extra federal debt notes into bullion that you hold in your hands... Money that you can hold, hide, and pass on to others all without anybody else knowing...
What is the user warning at the topof this screen? WTF
The Fed should watch the classic movie "Hang 'Em High"
because when this credit/debt/currency bubble bursts, the angry mob public is going to be looking for justice.
and the Fed will be called to account for their crimes (what's known and what's unknown).