Fed's Evans To Market: We Are Right, You Are Wrong

Tyler Durden's picture

The egotistical arrogance is disgusting...

After years of (self-admitted) failure to achieve anything like a coin-flips accuracy in forecasting, Federal Reserve Bank of Chicago President Charles Evans excl;aimed this morning (after US macro data collapsed to one year lows) that:

“I think that our path is more likely to be the one that we actually follow” than the market’s view or the federal funds rate in the future. "

That a dozen ivory tower academics know best is comical. Here's the current market vs Fed chart... (the market has lost faith since the March rate hike)

And the odds of 2 rate hikes in 2017 is also tumbling now...

He then added:

“I think the U.S. economy has sound fundamentals right now, so it’s difficult to come up with many downside risks there”

WTF are you talking about!!

Oh and finally, Evans spewed this crap...

“I think that the global environment is much more sound now”

Oh you mean apart from China's massive monetary tightening and deflationary impulse?

So apart from always being wrong, collapsing US macro data, and a looming delfationary impulse from China set to sweep the world's capital markets, yeah Mr. Evans, you're probably right - after all, you're the one with the PhD.

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remain calm's picture

Evans is really smart, he does have a PhD. I think he knows best. I trust him with the future of all markets. World needs more PhD's. Evans might be God and therefore he is prbably our savior.

ElTerco's picture

...and I have never met a PhD with tunnel vision.

nope-1004's picture

Fed owns the world.  Trump is irrelevant.  Mr. Yellen is your 'appointed' world leader currently.

"Give me control of a nation's money and I care not who makes it's laws"  - Rothschilds

END THE ROTHSCHILDS

END THE ROCKEFELLERS

END THE FED

JRobby's picture

They are fun people to take on multi - day extreme adventure outings where one mistake can mean death. That's when you really see the value of that PhD shine.

Hal n back's picture

it is good they are like this-that means we are getting closer to the end

10flippers's picture

if they are the market, how can they possibly be wrong?

Shitonya Serfs's picture

Yep. It's all made up and we get to pretend we have a clue.

BigFatUglyBubble's picture

I wonder if he was sober when he said that.  For me, about a half dozens shots of vodka would be needed to display that level of hubris. 

Bam_Man's picture

They will MAKE the "markets" believe them.

carbonmutant's picture

Actually, that's where the real dangers in this hubris lie...

Vilfredo Pareto's picture

They are the market until they are not.

E.F. Mutton's picture

Gee Chuck, I disagree.  Let me show you my empirical data via Dot Plot

On your forehead.  With a soldering iron.

BabaLooey's picture

6 academanics and 3 dopes make up the Fedfudgepacking Reserve.

FUCK YOU ASSHOLES.

stitch-rock's picture

There is no substantial hike coming....ever

Bryan's picture

No, I disagree.  I really think they have the gall and hubris to hike rates and blow it all up; then of course they'll blame someone or something else as the cause.  I've come to realize these academics are about #3 on the most-despised list, following personal injury attornies and politicians.

daveO's picture

The slow, but sure, hostile takeover of the economy using fraudulent fiat.

Vilfredo Pareto's picture

Trump.

 

They gotta make him a one term president.

 

Previous presidents have blamed the fed for their losses so this isn't necessarily tin foil hattery

asteroids's picture

The action of printing infinite fiat renders the fiat worthless.

Ricki13th's picture

These assholes want to implode the economy by raising rates. I guarantee we will be in a official recession by the Gov't standards this fall; watch!

barysenter's picture

idio-meritocracy in action

Rebel yell's picture

Rainbows, sunshine, and glitter for everyone! Thank God it's the weekend!
https://m.youtube.com/watch?v=y6uBJxGve-8

Apocalicious's picture

I've heard Charles Evans speak in person. I would be shocked if his IQ is above 110. He's literally one of the dumbest people in finance I've ever encountered. 

small axe's picture

must be hard to kiss your own ass, but Charlie is a pro

thedespised's picture

Every time they talk, they expose themselves a bit more.  It's gonna burn when the sheep wake up and realize the extend of the deception.

Bemused Observer's picture

They are not in touch with the reality of it. They have spent all their time in the little hothouse environment of their fellow-thinkers, and simply do not get out and about to see how it all actually WORKS in the real world. They are kind of like those young soldiers who think of war like its a video game, and only understand the reality when they are hit with something. And they are SHOCKED, because that never happened before! And you want to know what happens to folks when what they've been taught hits the wall of reality? Take a good look at our veterans for an idea...they go off all fresh-faced and idealistic, and come back broken, burned, and all messed up with PTSD.

 

The next financial crisis will be a wealthy man's crisis, because it is the wealthy alone who have anything to lose, or enough worth stealing at this point. And all these elitist financial mouthpieces will take on the 'thousand-yard stare' of the soldier who finally got an eyeful of what the front lines ACTUALLY look like as all those wealthy start demanding answers. It will also be a price-discovery crisis, as asset values are re-assessed. A lot of phantom wealth is just going to evaporate.

 

We skipped over that part after the last crisis. TPTB thought they could just leapfrog over that whole unpleasant business, and simply come out the other side, no worse for wear...WRONG! All they did was postpone it, and give it some extra time to gather strength before the inevitable collapse, to add a few more soon-to-be-evaporated zero's to their bank balances. All they've accomplished is to insure that their losses will be all the greater when they occur.

Vilfredo Pareto's picture

The next financial crisis will be a wealthy man's crisis, because it is the wealthy alone who have anything to lose, or enough worth stealing at this point. 

 

That is true lol.  It is remarkable how far some of us have fallen.

Herdee's picture

They have to tighten because they need room to reduce interest rates with the coming recession. Should start hitting hard in the fall season.

Consuelo's picture

 

 

What are the Pharisees doing letting this servant out to run his mouth...?

Indelible Scars's picture

Well, nice to know everything is just peachy. Thanks a million, er, thousand.

Grandad Grumps's picture

But, the Fed always seems to lie about their actual intentions.

VWAndy's picture

 Must be nice having the fiat magic in ur pocket?

Blankfuck's picture

The Fed Reserve Fuckers screwing everyone! High prices for all, rental slaves, debt slaves!---THE PONZI WORKS FOR BILLIONARES!----

Kat Daddy's picture

Is that rope good for hanging?

rosiescenario's picture

The Phed PHD's only talk to each other so their ideas become as inbred as anything to be found on an Appalachian mountain top.

 

Trump should'a dumped Mr. Yellen and appointed Nassim Taleb as Fed chair if he wanted to see some real change, but unfortunately Goldman would never have given him permission to take such a radical step.