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Is the Fed leaking?

hank
in Off-Topic
Last week all the speculation by pundits (and Paul McCully) was about the Fed removing the "considerable period of time" language when it meets this week. Markets swooned. Today, the speculation has reversed - they won't change it.

Where are they getting this? In the past Fed Governors would induce these swings with well timed on-record statements. But, this stuff seems to be coming out of thin air. I don't think Ben leaked. Does Janet?

Before I get taken to the woodshed for an irrelevant question .... I think that if this signals a change in how the Fed communicates its positions and intentions to investors, it's not a totally irrelevant question. (unless you went 100% long 30 years ago, never look at it, and are out fishing on your boat somewhere:-)

Comments

  • scott
    It's not "leaking" as much as it has become a "MOPE" (Management of Perspective Economy) where the goalposts are moved, interventions are commonplace and someone says one thing only to have someone say something else a few days later.
  • LLJB
    They don't really need to leak. There are enough Fed people out speaking, and with a wide variety of views, that if she wants to test market reaction to anything she has plenty of opportunity. I also think data is so instantly and widely available these days that too many "experts" are trying to interpret all this stuff (to earn a buck for themselves) but no matter what they're predicting the future and that means many of us would be better off just ignoring them.
  • Old_JoeOld_Joe
    Well, I predict that there will be no shortage of predictors making predictions. Prove that wrong!
  • LLJB
    It's the new roller coaster at Six Flags... a double negative with an inverted loop! Which means you're undoubtedly not wrong @Old_Joe.
  • Old_JoeOld_Joe
    Hey, the inverted loop is really cool! Thanks!:-)
  • hank
    Speaking of loops, if you haven't seen "The Great Waldo Pepper" with Robert Redford, I think you'd enjoy it. The "outside loop" plays a prominent part in this film about early stunt flying.

    Wikipedia Article http://en.m.wikipedia.org/wiki/The_Great_Waldo_Pepper
  • TedTed
    @LLJB: Coming 2015: Batman Roller Coaster Ride !!!
    Regards,
    Ted

  • LLJB
    @Ted, that's fantastic!!!! I thought there was already a roller coaster called Batman that I had been on years (maybe even decades) ago at Six Flags outside of Chicago, but this is totally different and far better! I haven't been to Texas for a few years but this could be worth a special trip.
  • heezsafe
    @hank "Where are they getting this?"
    They got it from the usual source: "The Fed Whisperer," Jon Hilsenrath (WSJ)
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