Their willingness to destroy the U.S. economy is impressive. A plus for persaverance.
“Members emphasized that this change was intended to convey the sense that, while no decision had been made, it may well become appropriate to initiate the normalization process at the next meeting,” said minutes of the FOMC’s Oct. 27-28 meeting, released Wednesday in Washington.
A majority of Fed officials have signaled they expect to raise interest rates this year for the first time since 2006. That message was underscored when policy makers inserted a reference to the “next meeting” on Dec. 15-16 in their October statement, in connection with their assessment on when to act.
A “couple” of voting policy makers had qualms that the wording change “could be misinterpreted as signaling too strongly the expectation” for December liftoff, according to the report.
Participants in the meeting “generally agreed,” the minutes said, “that it would probably be appropriate to remove policy accommodation gradually.”
“It was noted that the beginning of the normalization process relatively soon would make it more likely that the policy trajectory after liftoff could be shallow,” the minutes said.
The market is responding positively to the minutes. Hell, if space aliens destroyed Moscow today, stocks would continue higher on hopes that a new Moscow would bolster worldwide growth. It’s just one of this runaway train type of days.
Enjoy.
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Does Dec. even matter at this point. If the fed raises rates It’ll give the US dollar a bid and continued deflation, but if they don’t raise isn’t that the same as the fed having to admit that the economy may not be as strong as we may believe?
Now you will see the rise of the banks once again, as they exact their revenge on all those who borrowed from them at low[er] rates.
Does Exodus flash “overbought” signals too?