THE FED BLINKS ON MARKETS
-We have been telling anyone who would listen that this Fed was not listening to the markets. We have been telling you this was a problem as markets have been yelling and screaming that the economic numbers were heading south. We have been telling you that this last rate hike was the last and that eventually they had to go easy and easier. Who knows? Maybe the Fed heads have been listening to us.-
-In the past few minutes:-
-“New York Fed President John Williams says Fed is turning to a more data dependent mode; Hearing risk concerns from the market; Says being data dependent means listening to the markets!”-
-Duh! Duh! Duh! Hmmm! We thought they were already data dependent.-
-As we write this, the DOW has rallied almost 300 points since this announcement. Remember, the DOW was 2,200 points below the 200 day moving average so a good bounce was overdue anyhow. This announcement looks like a short-term catalyst. Whether it lasts or not is another story but again, 2,200 DOW points.-
-Just leave no doubt, the dolts at the Fed have finally woken up to everything anyone with two eyes and two ears have been seeing and hearing…and that is the market knows something is up. Not sure it helps!-
12/21 podcast – NO SOUND!!!