Non-voting member, Charles Plosser of the Fed had this to say today: "The rise in oil prices and the simultaneous increases in a broader basket of commodity prices suggest that significant inflationary pressures exist in the economy and thus the Fed must be very vigilant."
Which means he has no idea what he is talking about.
He didn't mention the deflation in home prices. Or that the quickest source of credit comes from sovereign wealth funds.
Ever watch Ronco products hawked on late night TV? The chicken broiler? "Just set it and forget it." That's the message of the Fed. When you hear this blabber, switch the channel.
"Set it and forget it."
6 comments:
The Fed is going to raise rates. The average effective fed funds rate since the last FOMC meeting is 4.4995%. If the effective fed funds rate continues to rise, the Fed will raise rates.
Good video explains relationship between interest rates and markets.
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vtRampCRE.NI.asf
http://www.bloomberg.com/avp/avp.htm
?clipSRC=mms://media2.bloomberg.com/
cache/vtRampCRE.NI.asf
Sorry, this is the whole link.
He's just wrong. Rates are not going higher, and his "analysis" is "fractured."
Fed follows EFF.
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