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"but Bullard noted that the plan was always data-dependent. Bullard said the Fed cannot "abide" the drop in inflation expectations seen in the Treasury Inflation-Protected Securities."
The dude cannot abide the drop in inflation, man.
Also:
"BULLARD SAYS BOND PURCHASES SHOULD BE DATA DEPENDENT and
SAYS 'U.S. FUNDAMENTALS REMAIN STRONG' but
BULLARD SAYS FED SHOULD CONSIDER DELAY IN ENDING QE."
Fascinating interview Scott. I don't know how much sway Bullard has among FOMC members. You could see the Bloomberg tapes moving the second he started talking. In fact, we have about a 3-5 second delay coming off the satellite, so things started moving a few seconds before we heard his first words. Yikes - What kind of traders are that tuned in?
Seemed to cause both equities and commodities to reverse their downward slide. Dow was down around 180 when he began. Gold turned briefly positive. Several agg commodities jumped. It's all noise of course. These guys are expert at talking out of both sides of their mouths. But, lightened up the morning coffee a bit.
Comments
Seemed to cause both equities and commodities to reverse their downward slide. Dow was down around 180 when he began. Gold turned briefly positive. Several agg commodities jumped. It's all noise of course. These guys are expert at talking out of both sides of their mouths. But, lightened up the morning coffee a bit.