More Fed "Bad Cop"

Tyler Durden's picture

Bernanke telling the world the Fed will ease any time there is a stock downtick is the 'good cop.' Which means there needs to be a bad cop to pretend that the Fed actually cares about more than just 10-20% red candles in the Russell 2000, and to give the impression of a balanced Fed. Last week it was Plosser (who simply regurgitated his script from March 2010). Today it is Dallas Fed's Fisher. From Bloomberg:

  • FED'S FISHER SAYS U.S. ECONOMY IS IMPROVING
  • FED'S FISHER SAYS U.S. ECONOMY IS IMPROVING
  • FED'S FISHER SAYS LATE 2014 INTEREST RATE PLEDGE WILL NEED TO BE ADJUSTED
  • FISHER SAYS FED SHOULD `SIT, WAIT AND WATCH' ON POLICY
  • FISHER SEES TIME OF `SURVIVAL OF THE FATTEST' NOT FITTEST
  • And finally: FISHER SAYS FED HAS `DONE ENOUGH' IN EASING

All great stuff, and truly Oscar worthy, in the daily Fed theater. Also, all 100% irrelevant.