- Two days of bad economic news this shortened week
- The Fed still says the economy is recovering
- Recent FOMC minutes maintains pretense they can raise interest rates
- FOMC members are worried about raising rates “too soon”
- The Fed is worried about how to remove the word “patient” from communications
- How confident can the Fed be in the “recovery” if they still fear raising interest rates?
- The “recovery” was just a bubble masquerading as a recovery
- If we had a real recovery the Fed could have already raised rates
- They are now concerned about weakness overseas
- They are worried about a strong dollar
- They expressed concerns about the risks of lower oil prices
- Low inflation causes concerns
- The Fed is clearly paying attention to the negative economic news
- Empire State Manufacturing down
- Home Builder Confidence at 4-month low
- Industrial production weak
- PPI number declined .8
- Eventually the economic numbers will force the Fed to acknowledge weakness and resume stimulus
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