https://www.cnbc.com/2018/12/21/ny-...ys-the-fed-could-reevaluate-view-in-2019.html We did not make a decision to change the balance sheet normalization right now, but as I said, we're going to go into the new year with eyes wide open, willing to read the data, and reassess the economic outlook and take the right policy decisions," Williams told CNBC. Is this a joke ? How bad can they get, this cannot be the leaders of a trillion dollar industry... Destroy the bond market, only to backtrack 2 days later saying willing to read the data now ? This has to be one of the cons in modern economy, how can they be so stupid and have such important positions at the same time ? WILLING TO READ THE DATA he said, they clearly are not data dependent as they seemed to preach, by reading there own data standards, indicated serious troubles of tightening too quick, inflation is way below 2 %, commodities and oil have to drop 40 % in a few months to be considered under 2 % inflation going forward ? 29 % drop wasn't enough ? Fuck Jerome " Gut Feeling " Powell and his cronies, they knew exactly what they were doing, they use the shadow rate theory to asses situation, and that theory indicated bond market destruction if they did not wait it out until Jan-March 2019 to tighten sheet again... These clowns will soften up big time January 30th at next meeting, and by end 2019 cut rates again, Australia about to cut rates and QE, Canada paused hikes and it seems permanent, US firing at all cylinders tho
They all have short positions in the instruments they know will be affected negatively by their comments and actions. After all, they are PRIVATE bankers. The central-bank idea and fractional reserve system is eventually going to implode. This is the second time in 30 years that it is showing signs of a major flaw in mechanism.
We have been saying this for years....the fed is a scheme to redistribute value.... This sell off is the market having it's say...correcting inflated assets...
I get that way when I see injustice... Obviously it is just the business world, there are worst cons that actually end lives like wars for profit. You placed your PUTs in time and setup your plays, there will be a tiny window for me to execute plays and prepare for 2019, premiums paid will be bit more but wont matter really, it is not about maximum profit, it's just not right these tools are purely politicing there decision instead of actually being " data dependent " like they constantly claim Men lie, women lie, numbers don't lie... I am a numbers guy, decisions are never emotional, strictly evidenced backed, and this is horse shit to the fullest
He definitely made the investors unhappy. And consequently the president. Not sure if it was coincidental or premeditated.
The old bastard Powell is well past his use by date. Fed full of old white people. Hearing him talk, doddery old man.