Economists Expect “Mount Everest” of Uncertainty to Clear Up by December | MishTalk
More beneath the fold.
Last December, the Fed "knew" that interest rates needed to be raised, so it did, and said more were coming in 2016. Then, mere weeks later, it realized it had no idea about what it was doing, had made a disastrously poor decision, but it could not walk it back. Then in Winter/Spring the Fed again inferred it would need to raise rates, but it did not because the fops at the Fed realized this would be a disastrous policy. Now again, the pips speak.
The only question is why anyone listens.
"Here’s a hoot. A Wall Street Survey shows Economists Expect December Rate Hike.
Why? Because economic uncertainty will allegedly vanish between September and December."
Oh, good. The US economy will bound out of its anemia, the world economy will finally catch, and start, consumers will again consume, governments tax, and the Fed will need to raise interest rates, probably monthly for a year! Ok, I made that last part up, but it is just as nonsensical as the Feds statements.
Mish then notes, "The same geniuses who figure things will become more certain between September and December also say Election-Induced Uncertainty Harming U.S. Economy."
Ok, so which is it? More certainty, or less? This is binary, it is either "1" or "0," not both.
Mish wrestles this silliness to ground and pins it, please click through for his through analysis.
Again, why does anyone listen to the Fed?