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Art Cashin: "Fed's 'Party Line' Talk Keeps 2015 Hike Alive"
I agree that this is their narrative regardless of how unlikely it is that they hike. Frankly, I think it's a good thing to not telegraph with certainty that a hike is off the table. The Fed has been very talkative in recent years. Maybe a little too talkative, IMO.
LOL, this doesn't mention a very angry looking St Louis Fed president Bullard on CNBC this morning, where he went mental at Cramer for "cheerleading lower rates" and calling him "unsavory" . One of the most awkward moments on CNBC in a while.
Someone on ZH put it well, basically saying, "are we going to see FOMC members having cooking shows? Doing movie reviews? On "Dancing With the Stars?" Absurd, but the amount that they are talking and basically cancelling out one another is far more a negative than a positive in terms of the markets having any sort of clarity.
The Bullard thing this morning on CNBC was embarrassing, calling out Cramer for pushing for low rates for longer after the Fed has basically been the one to keep rates at ZIRP for several years in an attempt to create "wealth effect." Bullard also said that the "Fed can't support stocks forever" ... essentially admitting it's been one of their goals.
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Someone on ZH put it well, basically saying, "are we going to see FOMC members having cooking shows? Doing movie reviews? On "Dancing With the Stars?" Absurd, but the amount that they are talking and basically cancelling out one another is far more a negative than a positive in terms of the markets having any sort of clarity.
The Bullard thing this morning on CNBC was embarrassing, calling out Cramer for pushing for low rates for longer after the Fed has basically been the one to keep rates at ZIRP for several years in an attempt to create "wealth effect." Bullard also said that the "Fed can't support stocks forever" ... essentially admitting it's been one of their goals.