Fischer Admits Fed Is Clueless About What Happens Next

In a moment of rare honesty, during a conference in England, Fed Vice Chair Stanley Fischer admitted that the Fed is clueless about what happens next, blaming the Fed’s lack of clarity on Trump and saying there is significant uncertainty about U. S. fiscal policy under the Trump administration.
“There is quite significant uncertainty about what’s actually going to happen, I don’t think anyone quite knows what’s going to come out of the process which involves both the administration and Congress in the deciding of fiscal policy and a variety of other things.” Fischer said in response to audience questions about the Fed’s next steps. ‘At the moment we are going strictly according to what we see as our responsibility according to law.’

This post was published at Zero Hedge on Feb 11, 2017.