Richard Iley, from BNP Paribas, makes the case that the recent foray into the pits of hell is about the Fed– and not China. His position is clear: the Fed is the de-facto central bank for the world– and although US employment is near capacity; the world was not ready for Fed tightening, which essentially sucked liquidity out and crushed emerging markets, currencies, and commodities wholly to little bits and pieces– and then flushed them down Janet Yellen’s toilet bowl.
Anyone still want to take the other side of this argument? I didn’t think so.
Yellen and Dudley must feel like supreme assholes right now, while Dr. Benjamin Bernanke is lampin’ in his decked out corner office at Citadel, making “Miss me Yet” memes on reddit.
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Yellen is litterally the dumbest Fed President we’ve ever had. What they’re smoking on in those fed meetings to come up with this malarkey is what I’d like to know
>Yellen is litterally the dumbest Fed President we’ve ever had.
She is. By the way who got rid of Bernanke and put Yellen in charge.
Sure, I’ll take the other side. If the fed is the world’s bank, then that seems like the world’s problem, not the fed’s. We need to adjust away from this. Also, may I remind everyone that we are at fucking 0.50% interest rate and NOT 5.0%.
The truth is, our market has been overextended for a long while now and now we finally have a pullback that a lot of people were expecting for the last 4+ years. Just like the economy, we need a boom and bust cycle in stocks to weed out all the shit eaters.
So this clown makes the case that the Fed MUST act as the bank of the entire world?
Its inappropriate to tighten because other countries might be effected?
HA. Thats not capitalism Richard.
It was a 25 basis point hike. Now the world is melts?
Thats not the Fed’s fault. Thats the worlds fault for having terrible economies, built on false hopes. It is not the US’s job to rescue the world.
If the markets can’t get through a 25 basis point hike. They were far too high to begin with.
Where are all of the bulls from the last 6 years saying “The economies great. Jobs are great. We are firing on all cylinders. Here, I’ll site these 2 data points to “prove” the economy is doing great.