An anonymous source claiming to work for the Federal Reserve in Washington and known to me only as OMGWDKWTFWAD has forwarded what is believed to be the first draft of the August monetary policy statement from Federal Open Market Committee meeting.
This seems to confirm recent rumors that the Fed will soon change the language behind their pledge to keep short-term interest rates low for a very long time in order to spur an economic recovery. Unfortunately, this is likely to prompt even more analysts to realize that this is all just an exercise in futility and that the U.S. is quickly turning into Japan, the important distinction being that we can’t fund our own budget deficits.
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with so many tbtf entities still so highly levered and the government debt situation, they will not raise rates voluntarily. question is if and when the market forces them higher.
ROTFLMAO
: )
LOL… isn’t interesting how we find the truth spoken in the face of BS so funny.
Is this a reliable source? No doubt the fed funds rate will be ~0% longer than anyone expects, but that last phrase seems rather flippant.
Funny
I want a doctor to take your picture so I can look at you from inside as well.
Get rid of the “private” Fed, and create one for the people (actually owned by the government), and the deficit can disappear. Then we can move forward to real solutions like massive government reduction and reform, and wiping out the IRS in favor of http://www.fairtax.org. We have the potential to defeat this evil system, but not the politicians willing do it.