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Let’s Take a Look at the Fed Wishy-Washy Taper Drivel of the Day

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5 comments on Let’s Take a Look at the Fed Wishy-Washy Taper Drivel of the Day

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Wishy-Washy Taper Drivel 

Inquiring minds are mocking the Minutes of the FOMC Meeting of November 2–3, 2021

  • Some participants suggested that reducing the pace of net asset purchases by more than $15 billion each month could be warranted so that the Committee would be in a better position to make adjustments to the target range for the federal funds rate, particularly in light of inflation pressures. 
  • Various participants noted that the Committee should be prepared to adjust the pace of asset purchases and raise the target range for the federal funds rate sooner than participants currently anticipated if inflation continued to run higher than levels consistent with the Committee’s objectives. 
  • At the same time, because of the continuing considerable uncertainty about developments in supply chains, production logistics, and the course of the virus, a number of participants stressed that a patient attitude toward incoming data remained appropriate to allow for careful evaluation of evolving supply chain developments and their implications for the labor market and inflation. 
  • That said, participants noted that the Committee would not hesitate to take appropriate actions to address inflation pressures that posed risks to its longer-run price stability and employment objectives.

What a useless, wishy-washy hoot.

Mish for President of the Dallas Fed

In case you missed it, there is an opening for President of the Dallas Fed.

I sent in my resume with a pledge to fire nearly the entire staff except for those working on plans to end the Fed entirely.

Mish for President of the Dallas Fed

Please go to the Dallas Fed FAQ, look for the Orange Box “Apply or Submit a Candidate” and give them my name.

You can also Email them directly at dallasfedsearch@egonzehnder.com. The subject line should read Dallas Fed Presidential Search.

Thank you for your support. I look forward to serving you as president of the Dallas Fed.

My position will indeed be transitory. I pledge to fire myself within two years while accepting no pay in the interim.

By the way, about a dozen people emailed the committee nominating me and received responses thanking them. 

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Mike Shedlock

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Casual_Observer2020
Casual_Observer2020
4 years ago
Been saying it for over a decade now. We are the next Japan. We will go nowhere interestingly for a few decades with low rates as far as the eye can see.
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StukiMoi
StukiMoi
4 years ago
Reply to  Casual_Observer2020
We’re not “the next Japan.” Not even close. Japan is a massive industrial powerhouse. It has had low’ish effective inflation for decades (depsite the BOJs best efforts). Has the single most productive workforce, and most sophisticated and demanding consumers, on the planet, by quite some margin. 
The bubble in Japan was not even remotely as far reaching as it is in The US. Even at peak, it was largely a short lived Tokyo aberration. Of course, Tokyo society are who the BOJ and government exists to look out for over there, and hence have spent the past 3 decades bailing out. But bailing out a few tens of thousands inbred clowns with fancy addresses and family connections, who brought nothing but dishonor to their families, while the rest of the population still remain the world’s most efficient at creating value, is nearly infinitely easier than bailing out nearly everyone, once noone has any competence to do anything anymore. Which is where The US largely is by now.
Technically speaking, the theft required from productive Japanese, in order to bail out the clowns, was manageable. But only because the bubble was pricked while the productives vastly outnumbered the leeches “needing” bailouts. And also because everyone, including the leeches themselves, know who they were and are. Resulting in them, while saved from dragging their families down with them into ruin, largely having been prevented from engaging in anything more consequential than food blogging ever since.
If you want to look for international precedents for the US, look at Argentina. Once the world’s richest country. That’s where we are heading. We’re the next Argentina. A bunch of self promoters producing nothing, yet clinging to the notion that we are somehow the big kid on the block, just because we happened to be so, back when we remained a functional country where people lived off of something other than crass theft, forced redistribution and historical inertia.
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shamrock
shamrock
4 years ago
Your plan is to end the Fed, bravo!  But then what?  It’s the same feeling I get when Greta says to end the use of all fossil fuel.  Great idea, but then what?  Total disaster.
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Jmurr
Jmurr
4 years ago
Reply to  shamrock
Re-value the dollar and peg it to the price of gold and/or bitcoin. Gold $10,000 or BTC $200,000. Value of national debt (and everything else in dollars instantly deflates. Pass balanced budget amendment then set an automatic increase in money supply at 2% a year. 
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DennisAOK
DennisAOK
4 years ago
The Fed is wishy-washy? I am shocked!
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