Back in November 2014 [11], when the Fed had not yet admitted its third and fourth mandates were keeping the stock market as levitated as possible and responding to economic volatility and market turbulence in China (as it did last week) we made what we thought at the time was a sarcastic tweet, yet one which captured the gist of the September FOMC statement, when we said:
BULLARD: FED TO RAISE RATES IN 2015, TIMING DETERMINED BY DATA. Determined by DJIA he means
— zerohedge (@zerohedge) November 14, 2014 [12]
While the accuracy of this tweet has since been confirmed by the Fed itself, one person took offense at the contents: the person - St. Louis Fed "vice president" David Andolfatto. This was his reply, before promptly deleting his tweet:
@zerohedge [13] Ha ha, you are such a dickhead ... it's wonderful!
— David Andolfatto (@dandolfa) November 14, 2014 [14]
To be sure, Andolfatto promptly apologized after [15]our post led to a bemused public outcry at the Fed's own dickheadery, which unlike ours, has resulted in a record wealth transfer from the middle class to the uber wealthy, the lack of any wage growth in 7 years, a bond and stock market that flash crashes almost on a monthly basis and an economy which can not even survive a 25 basis point hike.
We bring it up because the same vice-presidential Economist Ph.D. was the source of some unintentional humor when he sparred with none other than our friend "Rudy von Havenstein [16]", the patron saint of money-printing central banks (which these days means all of them) everywhere.
The full twitter exchange, captured in images so it can't be deleted after the fact, is as follows. It needs to commentary.



