Chart Of The Day: Bullard Bulls#*t

Welcome to the Dow-Data-DependentTM Fed. Because What a difference 1,100 Dow points makes!

 

October 9th:

“When there is a mismatch between what the central bank is thinking and the market is thinking, that sometimes doesn’t end well, because there can be a surprise later on,” Mr. Bullard told reporters.

 

Right now, “the markets are making a mistake” and expect the Fed to maintain its ultra-easy policy stance longer than Fed officials themselves currently expect, Mr. Bullard said. When it comes to these expectations, “I would prefer that those be better aligned than they are.”

 

We should act on good news. We’ve got a pretty good performing economy. We should be willing to remove some accommodation,” and it would be better to get this process started and not wait too long, he said.

October 16th:

Mr. Bullard said Thursday that “U.S. macroeconomic fundamentals remain strong” and his forecast for 3% annualized growth in the second half of 2014?remains intact.”

 

“Inflation expectations are dropping in the U.S., and that is something that a central bank cannot abide,”

 

“We could just end the program in December. But if the market’s right and this is portending something more serious for the U.S. economy, then the committee would have an option of ramping up QE at that point.”

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And this is who Americans 'entrust' the planning of an entire economy to?

So is it a Dow-Data-Dependent-Fed?