THE FED SHOULD BE TAKEN TO THE GIBBET AND THRASHED WITH A CAT O’ NINE TAILS

The markets have been in free fall mode since the last jobs report. Each and every day, the Fed send a talking head out to make speeches about the virtues of rate hikes. The last time the Fed and Europe were going opposite directions with rates was 1994.

To be clear, the Fed believes the world is in a good place. Perhaps they’re not paying attention to the $628 billion in bad Chinese bank debt, or the deepening recession in Latin America, or the weaker than expected German manufacturing output.

Maybe, instead of looking at the jobs numbers, they should looks at oil, copper, steel, aluminum, and try to extrapolate how the the U.S. might look after 100’s of billions of dollars in petrol debt goes bad, sending oil men to the unemployment line by the thousands.

I think the Fed would be wise to examine the retail landscape and see WMT’s and M’s last quarterly reports. They might even want to take a look at JWN’s today, just to get an idea how the well to do are doing.

The Federal Reserve governors and their chief, Janet Yellen, are living in a fairy tale world with pixie dust covering butterscotched candies, clubbed sandwich lunches, impromptu pediatrist appointments and pearl brooches. They’re all delusional or worse: they might be purposly driving the U.S. economy into the sewers.

Here is a brief summary of recent Fed head comments:

Fed’s Lacker says monetary policy impact on real economy has been limited; inflation figures are not implying a departure from Fed targets.

“We can’t wait until we see the whites of inflation’s eyes; if we did, we would overshoot the mark,” Williams said. “An earlier start to raising rates would also allow a smoother, more gradual process of policy normalization, giving us space to fine-tune our responses to any surprise changes in economic conditions.”

Fed’s Rosengren says it could be appropriate to raise rates in December; has seen real improvement in the economy since October meeting

Fed’s Bullard says rise in dollar has already been priced in; global fears that caused the Fed to delay have largely dissipated; probability of a Dec hike at 80

The U.S. economy is overcoming the “sizable shock” from the dollar’s appreciation and foreign weakness, said Federal Reserve Vice Chairman Stanley Fischer, on Thursday. “The U.S. economy appears to be weathering them reasonably well,” Fischer said in a speech to a conference on rate policy hosted by the U.S. central bank. The dollar has appreciated by 15% since July 2014, and it will remain a drag on gross domestic product well into next year, Fischer said.

All future committee meetings — including December’s — could be an appropriate time for raising rates, as long as the economy continues to improve as expected,” Rosengren told an audience Monday in Portsmouth, Rhode Island.

Fed’s Mester says U.S. economy can handle a rate increase; sees strong case for lift off

In New York, William Dudley said: “I see the risks right now of moving too quickly versus moving too slowly as nearly balanced.”

But New York Fed President William Dudley said that “it is quite possible that the conditions the committee has established to begin to normalize monetary policy could soon be satisfied.”

“While the dollar’s appreciation and foreign weakness have been a sizable shock, the U.S. economy appears to be weathering them reasonably well,” Vice Chairman of the Federal Reserve, Stanely Fischer said.

“The committee has been very clear that the normalization path here is going to be shallower,” than the steady quarter-point-per-meeting hikes used by the Fed early this century or the faster hikes enacted in the early 1990s, said James Bullard, St. Louis Fed President.

These fuckers should be taken to the gibbet, in the city square, and beaten unconscious with a cat o’ nine tails.