Damn the torpedos, full spead ahead!

Fed Pres Fisher last night followed dovish speeches from Lockhart, Yellen and Rosengren where all reiterated that policy will remain easy for longer and “time is not now to tighten.” This of course follows the message of last week’s FOMC statement. Fisher still believes deflation is more of an immediate worry than inflation. The Fed continues to believe that the biggest economy in the world can’t handle rates above .25% and ‘damn the torpedoes, full speed ahead’ will remain policy. The US$ is following lower, falling to a fresh 15 month low with gold at a new record high. BoE’s King said he doesn’t mind a weak pound because it helps exports and the pound is lower in response. Retail Sales and IP in China were better than expected but new bank loans in Oct slowed dramatically, totaling 253b yuan, the lowest amount in a year. Sept Japanese machinery orders rose more than twice expectations. ABC confidence rose 3 pts to -46, a 5 week high.

Print Friendly, PDF & Email

What's been said:

Discussions found on the web:

Read this next.

Posted Under

Uncategorized