Oh my god!!!!!!!!!!! Oh geesys. May you valla con dios if you are long into this market tomorrow, or the rest of the world for that matter. FED Hikes DISCOUNT RATE!!! Oh yeah baby
I am guessing the US gov did not like the currency intervention that occurred earlier this morning. It is a warning to the rest of world. It might be time to bring out HMS Hood vs Bismark video.
You might want to re-read the statement, this means nothing for monetary policy. furthermore, the discount window had about $15b in borrowings, lol the horror
I do, everyday, and what I see is a fed chairman hinting this move a few days back while saying montary policy wont change. I also see a NY Fed president saying 'extended' means at least 6 months, this means no hike for quite a while and probably more
It doesn't matter. Markets anticipate the ENTIRE picture AT ONCE. What do you think is going to happen to the yield curve?
The discount rate is set by the Board of Governors of the fed(not the fomc), bernanke hinted this a while ago, it was expected that the hike would come out of nowhere(as opposed to a fomc meeting), the market is wrong here, this doesnt mean much In fact I'd say when the fed announced they would not roll over the alphabet soup of liquidity programs that was a more hawkish move, because those programs were using 'unusual and exigent' authority forcing the fed to stay congruent and not tighten credit