Tuesday , April 23 2019
Home / David Stockman's Contra Corner / Why This Tiume IS Different: The Fed’s Credibility Has Been Reduced To Zero, Zilch, Nichts, Nada & Nugatory, Too!

Why This Tiume IS Different: The Fed’s Credibility Has Been Reduced To Zero, Zilch, Nichts, Nada & Nugatory, Too!

Summary:
The Federal Reserve’s complete and utter capitulation of not only ending the balance sheet run-off (QT) as soon as September, along with signalling no further rate hikes in 2019 and the possibility for only one in all of 2020, was more than just absolutely stunning. It also proved to be a complete, self-inflicted repudiation of their entire credibility for both gauging the economy, as well as their adulteration of it. https://markstcyr.com/2019/03/24/why-this-time-its-different/

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The Federal Reserve’s complete and utter capitulation of not only ending the balance sheet run-off (QT) as soon as September, along with signalling no further rate hikes in 2019 and the possibility for only one in all of 2020, was more than just absolutely stunning. It also proved to be a complete, self-inflicted repudiation of their entire credibility for both gauging the economy, as well as their adulteration of it.

https://markstcyr.com/2019/03/24/why-this-time-its-different/

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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