“Data Dependent” Fed Chickens Out Again: Blames “Global” Risks For Unchanged Rates, Cuts Rate Hike Forecast

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

With gold up 15% since The Fed hiked in December (and stocks lower) and the market pricing a hike today at just 4% (June 53%), it is not surprising that Janet panicced and folded again in the face of “unequivocally good” data based on what the “Dow Data Dependent” Fed has said it monitors. Of course there were plenty of excuses:
FED MEDIAN FORECAST IMPLIES TWO 2016 RATE HIKES VS FOUR IN DEC FED SAYS GLOBAL ECONOMIC DEVELOPMENTS CONTINUE TO POSE RISKS FED LEAVES RATES UNCHANGED AT 0.25%-0.5% AS EXPECTED FED: GEORGE DISSENTED IN FAVOR OF A RATE RISE TO 0.5%-0.75% Not too dovish (upgrade uncertainty), not too hawkish (lowered rate hikes), a goldilocks statement, with just a little less inflation and just a little less GDP growth, and just two more quarter of near-ZIRP rates is what it takes for the world to get it all together.

This post was published at Zero Hedge on 03/16/2016.