Federal Reserve | timiacono.com - Part 4

A Dovish Fed? The Same, Just Different

I’m still catching up on what happened today at the Fed meeting that resulted in stocks turning in their best day of the year. Apparently, stock traders liked what they said.

After looking at the photo above from this Marketwatch story, clearly, a lot of people have placed a lot of trust in a lot of white-haired economists at the Fed.

UPDATE: OK, I’ve read a bit about what went on today and this WSJ item does a good job of detailing the tortured semantics that necessitated a title change above.

And … the Big Banks Win Again

Senator Elizabeth Warren (D-MA) details the ongoing, outsized influence that big Wall Street banks have on the Washington D.C. sausage factory as another last-minute provision favoring said big banks is inserted into a “must-pass” spending bill last week.

Also see Matt Taibbi’s take on the further dilution of the Dodd-Frank financial market reform (a.k.a. the “Citigroup provision”) and Ms. Warren at Rolling Stone.


My favorite chart from the Jeffrey Gundlach/Doubleline Capital presentation the other day.

This one was pretty good as well – a stroll down memory lane at the last interest rate normalization campaign by ‘Ol Greenie that was affectionately called “Baby Steps“.


This can’t be good.

From this item at GoldCore yesterday.

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