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Monday, September 10, 2007

Fed's Fisher speaks

Discordant: being at variance

In today's speech, the Fed's Fisher, had this to say about the employment numbers which showed no growth for last month, and was revised downwards for the previous two months. Referring to them he said it was occasional discordant note, such as last week's employment numbers.

It's only discordant if it's an anomaly or an outlier.

In April, of 2005, he said that the Fed was in the 8th inning of it's increase in interest rates. Even though Fisher's speeches read the best of any on the Federal Reserve it looks like he whiffed again.

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