Fed To Hold Closed, Unexpected Meeting Under "Expedited Procedures" On Monday To Discuss Rates

Tyler Durden's picture

With everyone's focus sharply attuned on anything to do with the Fed's rate hike policy, many will probably wonder why yesterday the Fed announced that this coming Monday, April 11, the Fed will hold a closed meeting "under expedited procedures" during which the Board of Governors will review and determine advance and discount rates charged by the Fed banks.

As a reminder, the last time the Fed held such a meeting was on November 21, less than a month before it launched its first rate hike in years.

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NoDebt's picture

QE4!  Finally!  If we're lucky, NIRP, too.

Cognitive Dissonance's picture

I assumed the publicity stunt yesterday of the three former and one present Fed heads discussing economic philosophy was a sign of desperation. This announcement of a meeting on Monday is the proof.

With Japan seriously thinking of even more negative rates and even more equity purchases, the ECB warming up the money drop helicopters and China backed into a corner, what's a poor Fed to do?

kliguy38's picture

wunder if they'll give the banks a "day off" too....that'd be nice of um

back to basics's picture

Is Deutsche Bank finally blowing up?

Cognitive Dissonance's picture

No. Deutsche Bank is STILL blowing up. They're concerned the corpse has begun to stink and will scare aware the marks.

Haus-Targaryen's picture

It can't be that expedicted ... they are waiting until Monday. 

zeropain's picture

they finally realize that negative interest rate is deflation, the FED only calls emergcy meeting if the market has crashed 20% or cus congress wants an answer.  and since we are near high of the year, I doubt it going to be good for markets.  congress might be wonder why jamie diamond is expecting rate hike that is coming quicker than people anticipate and the FED is communicating the opposite.  congress questioning FED is not good for markets.

Haus-Targaryen's picture

I am crossing my fingers for another rate hike, that would be most excellent.  

(As someone living abroad paid in USD)  

MagicHandPuppet's picture

Um, all of this is good, right?  It's hard to tell without a healthy dose of squiggly lines.

KesselRunin12Parsecs's picture
KesselRunin12Parsecs (not verified) MagicHandPuppet Apr 8, 2016 7:58 AM

"It can't be that expedicted ... they are waiting until Monday"


That's because on Friday they're observing their sabbath (& there's a gefilte fish sale at Wegmans on Saturday that they'll be lining up for, then there's a Barbara Striesand movie marathon on TV Sunday)

Tom Servo's picture

Wonder if "peddling fiction" is on the agenda...


JRobby's picture

We are fucked

What should we do next?


jus_lite_reading's picture

I'll bet you all 1oz of tungsten filled gold leafed bars that it is about Deutsche Bank and the derivatives implosion.

Oil going to $60 by years end, and $80 by 1Q17

QE4 is imminent.

zeropain's picture

they cant do qe4 with out congress.  the fed is congress's bitch.  and the bitch needs to explain to the boss all the bullshit they just spewed out.  bet some congressmen was writing up alot of questions watching the four FED heads on youtube last night.  volker was awsome tho.  and greenspan looked as tho he does not give a shit at this point.  yellen and the bernak was spewing shit to try to save their ass.

bidaskspread's picture

FED got word on the new WTI bank line cuts to Oil companies assigned 4/1. That's why they are meeting and it's probably around a 30% haircut on product inventories. Banks have big exposure.

old naughty's picture
or, they may be concerned that 30 full tankers at Iraqi port may become Russian missle targets... NOOOOO !
eatthebanksters's picture

MOAR QE,, NIRP.  Next week equities are gonna surge.  Shitboxes that sold at their 2007 peak in the SF/Bay Area for $750k are now selling for $1 to $1.25m.  They are gonna pump next stop $1.5m or $1000/sq.ft.   Its getting nuts kids and only those who own real estate or stock are benefiting.  No wonder Obozo wants to redistribute wealth; he's worried his rich friends are getting too rich and that the little people will finally get pissed off.  How do you plan for the future with so much certainty that at some point its all going to blow up, but you just don't know when?

thesonandheir's picture

Fed and BoJ in same April week, this meeting is to make sure the plan is kept to in the days leading up to Kurodas next monetary kamikaze attack, anything discussed at April FOMC will not show up on minutes when they are released later.

PrezTrump's picture

your cluelessness is showing...

Colonel Klink's picture

No but peddling lies and bullshit always is.

TheMeatTrapper's picture

I'm going to sit tight and wait for Cramer to tell me what I should do. 

firstdivision's picture

As someone living with a broad as well, she spends all my USD.

NihilistZero's picture

If you were an Alpha, you could spend hers ;-)

Colonel Klink's picture

Alpha, is that code for acting like a giant asshole, like most of them are?

Arnold's picture

A is for Adorable, when we play tennis in just our shoes and socks.


--Gigolo's Guide to Wealth and Success.

Peak Finance's picture

Sorry your testies never decended Colonel Klink

LawsofPhysics's picture

Maybe CONgress will revolt their charter and take back the printing press...

just trying to stay optimistic...

techpriest's picture

Ryan, Boehner, Pelosi, etc. running the printing press doesn't give me that much more optimism.

Ghost of PartysOver's picture

I am thinking the same.  DB Containment may be the issue of the day.   Other options which may be bigger is that sucking sound coming from China as wealth is fleeing that country or the Panama Papers may have some Fed names hidden deep in the text.  Where is Anonymous when you need them; can't they get their hands on those files.  Wusses!

zeropain's picture

the US has one bandaid left.  you think it will use on a european bank?

Jim in MN's picture

Duct tape can stop the bleeding but man, does it hurt when it comes off.

ThroxxOfVron's picture

Use ProGaff.  

Never take the old gaff off; just add more layers and write new numbers on it with the paintpen.

WTF you have no paintpen?

Winston Churchill's picture

Janet's douche is pre booked for the weekemd.

semperfi's picture

thanks for the image - more tequila please...

Helix6's picture

It's the signal for the smart money to get out today.  On Monday, the dumb money will be fleeced.

mtl4's picture

Deutsche Bank will crate a giant sucking sound when it goes under and hopefully the FED is smart enough to stop listening to external force when guiding policy but we are quickly crossing the Rubicon on that front too.

Arnold's picture



"Citigroup Global Markets Inc.
  Credit Suisse Securities (USA) LLC
  Daiwa Capital Markets America Inc.
  Deutsche Bank Securities Inc.
  Goldman, Sachs & Co.
  HSBC Securities (USA) Inc."


monk27's picture

The words "FED" and "smart" used in the same sentence automatically create the greatest sarcasm ever available on this board...

Jim in MN's picture

Rates my hairy orificia.   This is a Panama Papers management meeting.

HardlyZero's picture

Is Christine invited too ?!  

That might get their animal spirits rising.

Latitude25's picture

Yes and only accompanied by that small detail called Japan.

HardlyZero's picture

or Brazil Bailout to keep the Olympics afloat.

MFL8240's picture

Absolutely disgraceful games by this Cabal to manipulated prices and perpetuate the lies they have built to support the ongoing balloon till November has come and gone!

conscious being's picture

The longer the wait, the bigger the bang.

LawsofPhysics's picture

CD, did you notice how they kept repeating "there is no inflation"...

yes, something wicked this way comes...

ThroxxOfVron's picture

"I assumed the publicity stunt yesterday of the three former and one present Fed heads discussing economic philosophy was a sign of desperation. This announcement of a meeting on Monday is the proof. "

Volker told 'em they're fucked.

Greenspan pretty much agreed.

Ben said he'd done all he could at the time.

Jack Lew didn't answer Yellen's texts because he is up to his eyebrows with bug-eyed Congresspersons trying to find out if the Panama dump has outed their UGMA/shell corps because what happens in Vegas doesn't stay in Vegas anymore...

NihilistZero's picture

We're in historic territory as far as the length of this "expansion".  Now being that the expansion is wholey predicated on ZIRP/QE enabling Tech/RE fantasy valuations, does that mean their is further room for expansion into record territory?  Or will it be a harsh snapback in lieu of policy measures being exhausted?

Me thinks it's the latter...