That´s not the point. I recall times when these Wall Street idiots would react in a "normal" and initiate a sell off after such remarks by a central banker. But nowadays it´s obviously meaningless what a central banker thinks about interest rate policy.
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Fed's Plosser calls for rate hikes
- Thread starter ASusilovic
- Start date
That´s not the point. I recall times when these Wall Street idiots would react in a "normal" and initiate a sell off after such remarks by a central banker. But nowadays it´s obviously meaningless what a central banker thinks about interest rate policy.
Everyone knows nothing is going to happen until the S&P hits 1300 :-}
That's the reason why there is no reaction.
That's the reason why there is no reaction.
Quote from ASusilovic:
That´s not the point. I recall times when these Wall Street idiots would react in a "normal" and initiate a sell off after such remarks by a central banker. But nowadays it´s obviously meaningless what a central banker thinks about interest rate policy.
Quote from ASusilovic:
That´s not the point. I recall times when these Wall Street idiots would react in a "normal" and initiate a sell off after such remarks by a central banker. But nowadays it´s obviously meaningless what a central banker thinks about interest rate policy.
You obviously have not read Niederhoffer's 'Principle of Ever-Changing Cycles'. What worked or what was the norm yesterday will not work and will not be the norm today.
Even forgetting that, the speech yesterday was just typical boilerplate stuff from Plossner and completely expected. It was ignored by markets because it will be ignored by the FOMC.
Quote from ASusilovic:
That´s not the point. I recall times when these Wall Street idiots would react in a "normal" and initiate a sell off after such remarks by a central banker. But nowadays it´s obviously meaningless what a central banker thinks about interest rate policy.
Maybe this is the "normal" reaction to central bankers' diatribe... Maybe what used to be the norm was wacky... Since no central bank in the free world is doing anything proactively; ie. they're reacting to market developments; all they're doing is at most slowing the markets down in whichever way it moves too fast. How many times we heard Jim Rogers saying 'the Fed is irrelevant' - at the gasping agony of some of the Bloomberg reportresses... There he had a point.