IMF Paper Advises the Rabid Dogs at the Fed to Stand Down

On a day when just about each and everyone of these Fed fuckers are making speeches, talking out raising rates and how inflation is just around the bend, the IMF issued a report, reminding the Fed of their own mandate.

“The Federal Open Market Committee’s (FOMC) decision should
remain data-dependent, with the first increase in the federal funds rate waiting until continued strength in the labor market is accompanied by firm signs of inflation rising steadily toward the Federal Reserve’s 2 percent medium-term inflation objective,” said the note, which does not necessarily reflect the views of the Fund’s executive board.
A Reuters poll published on Tuesday showed a 70 percent chance the U.S. central bank would raise its short-term lending rate at its Dec. 15-16 meeting, after a stronger-than-expected jobs report last week.

In a speech today, Fed’s Bullard warned the Fed of being in a ‘permazero” rate environment and this fucker even said he ‘yearned’ for times when the Fed actually had a job to do, pulling levers. It sounds to me these old hags are bored, nothing to do, feeling useless, so they’re trying to restore themselves back to their former glory.

I’m sorry, I didn’t realize America’s monetary policy was there for you to amuse yourself with, fill the void of a mid-life crisis.

The Fed is afraid of becoming Japan. Well, it’s too late. We are Japan. We’re not Japan because rates are zirp. We’re Japan because we absorbed the banks’ losses in 2008 and now have $20 trill in debt. It’s pretty hard to grow fast when you have that much debt.