Friday, October 9, 2015

"You Want to Know When Janet Yellen Will Raise Interest Rates?"

"I think I'm entitled to know."

"You want to know?"

"I want the truth!"

"You can't handle the truth!"

"You see, deep down in the bowels of the Federal reserve Board,   Yellen herself doesn't know.  The members of the Federal Open Market Committee don"t know.  The 150 staff economists of the fed don't know. The presidents of the twelve regional Federal Reserve Banks don't know. Other central bankers don't know.  Professors of monetary policy don't know.  Nor do hedge fund managers, financial advisers, mutual fund managers, and others in the investment community."

"You see, they use words like inflation, full employment, emerging markets, strong dollar, financial stability, global growth, monetary rules, discretion, and others to decide.  You use them as whipping boys to bash the fed, while the fed provides the blanket of financial security under which you sleep at night and rise in the morning."

"I just wish you would wait until the fed actually announces a rise.  Or, you can go ahead and gamble your money thinking you know when Janet will pull the trigger."

"Either way, I don't give a damn what you think you're entitled to know."

"I'm going back to my third cup of coffee.  I'm from Missouri, the show me state."

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