No More “Considerable Time” – Meet The New, “Patient” Fed

Jon Alternative Media, Blogosphere, Economy, Fiscal Policies, Gold, Market Commentary, Precious Metals

With expectations that the FOMC would drop “considerable time,” ignore foreign market instability, and shrug off HY credit’s demise (as they had previously said it was a bubble), the members did not let anyone down…
*FOMC SAYS IT CAN BE ‘PATIENT’ IN APPROACH TO RAISING RATES *FOMC DECLINES TO MENTION RECENT GLOBAL MARKET INSTABILITY *FOMC SAYS PATIENT APPROACH ‘CONSISTENT WITH OCT. STATEMENT’ *FISHER, PLOSSER, KOCHERLAKOTA DISSENT IN FOMC DECISION For the 3rd FOMC meeting in a row, equity markets have surged (and decoupled from bonds); we will soon see if history repeats a third time.
Pre-FOMC: S&P Futs: 1988.00, 10Y 2010%, Gold $1195, WTI $57.50
What happened the last 2 times…

This post was published at Zero Hedge on 12/17/2014.