I wasn't in my desk during FOMC yesterday(thats a first in more than 2 years!). No dissents, hilarious, those new hawks were about to shoot bernanke last year now when they get to business they vote with him. Seems pretty clear to me the Fed wont hike this year, unless iexpectations go through the roof and its unclear to me why would that happen given that the improvements in both inflation and employment will be gradual. Furthermore the Fed can always talk down iexpectations through open mouth operations
Once again your post shows only that you have very little understanding of the nature of bureaucracies. I also find it interesting that the Fed hurling the world into yet another asset bubble to be something worth chuckling about.
There was only one hawk last year and he's gone now... The fact that Plosser didn't dissent was rather surprising, 'cause everyone expected him to become the new Hoenig.
i don't think they will pull it off,but that was probably the thinking on the last 2..it's pretty amazing watching this thing climb
I think it was widely expected, just later (some time in Feb)... Also, the Treasury were at pains to describe this as a "scaling back", rather than "cancellation". Some people suggested it means that they will resume it after the debt ceiling issue is out of the way. So estimates I saw were arnd 2-3bps.
I vaguely remember Pre-Paid Legal being tossed around in this thread. Can't remember the details. Looks like anybody who hadn't yet destroyed their net worth being short this stock was officially taken out behind the building and shot this morning ... http://dealbook.nytimes.com/2011/01/31/pre-paid-legal-in-650-million-buyout/
I was wrong about the buyout, still this was an unavoidable mistake, the original thesis was too obvious and sound, the company works like a pyramid scheme and can't keep going forever