Well. What did he say?

He said:

 

So true

prelim -- they're hopin' that the 7% inflation rate goes away -- that it's just temp.

 

"likely" to be mellow with the increases, but...

 

minutes for the meeting come out later so we won't know who voted for what until some time down the road.

jfo

funny they're so worried about wording in may???

 

FOMC members debated 'measured' language

--2:00pm - By Corbett B. Daly

WASHINGTON (CBS.MW) -- Some members of the Federal Open Market Committee had reservations at the May 4 meeting about language in the official statement saying the committee would raise interest rates at a "pace that is likely to be measured," a summary of the minutes of the meeting released Thursday show. In the end, all 12 members of the FOMC agreed that such language would not tie their hands if economic conditions justified a faster pace of rate hikes. The FOMC held interest rates steady at the May 4 gathering, but boosted the overnight lending rate by a quarter percentage point at the June 29-30 meeting. The committee also retained the 'measured' language at this week's meeting while adding a vow to do whatever was needed to maintain price stability.

why would their "hands" be tied by wording???

greenie knew about the payroll numbers, that's why he said he was pissed off that business didn't risk more and borrow all that worthless money.

 

the fed is back to hanging the hat on productivity.

 

sleater's been pretty specific calling for a dollar fall because of what appear to be berry valid reasons.

 

we're setting up for an ugly oct for mutual fund flows and i expect over the next six months we'll see a big increase in net flows out.

NEW YORK (Reuters) - The dollar dropped steeply against major currencies on Friday, after a much weaker-than-expected employment report reinforced belief that the Federal Reserve can continue to raise interest rates at a measured pace.

More aggressive tightening from the Fed would enhance the attractiveness of U.S. dollar-based assets for global investors.

The U.S. economy created 112,000 non-farm jobs in June, compared with a revised 235,000 in May. Markets were expecting new jobs of 250,000. The unemployment rate was steady from May at 5.6 percent.

``Undoubtedly it's a dollar-negative report. This pace of job creation shows there is still slack in the labor markets,'' said Alex Beuzelin, foreign exchange market analyst with Ruesch International in Washington DC.

``The bottom line is that this is the type of number that will allow the Fed to continue its tightening at a measured pace,'' he added.

Unemployment figures are regarded by the market as a key gauge for the U.S. central bank as to whether the economy has picked up enough strength to warrant higher rates.

After the Fed pushed up its key interest rate for the first time in four years on Wednesday, to 1.25 percent, the market's focus shifted to the pace of future rate hikes.

The Fed reiterated its stance that it would likely be ``measured'' in future tightenings, though the market was still mulling over the wording.

Financial markets have already priced in several more quarter point rate rises later in the year.

 

lol!!!  this guys actually trying to say the markets have priced in the final target for interest rate at current levels... what a fluckin' joke... that's too funny... rotfflmao!!!

"

More aggressive tightening from the Fed would enhance the attractiveness of U.S. dollar-based assets for global investors. "

 

why would it take "more aggressive"??? this is going to happen over time anyway.  so, the dollar is trading where it should be, for now, but not where it's going to be when they finish normalizing rates.

jfo

Market cutting back its Fed rate expectations

--11:21am - By Rex Nutting

WASHINGTON (CBS.MW) -- Financial markets now expect just three more quarter-point rate hikes from the Federal Reserve this year, according to prices at the Chicago Board of Trade's federal funds futures market. A week ago, the market was giving strong odds that rates would rise to 2.5 percent by January. After a strong message from the Fed on Wednesday that it would likely maintain a gradualist approach on rate hikes and a weaker-than-expected payroll report on Friday, the market was pricing in a fed funds rate of 2 percent at the end of the year, with about a 43 percent chance of a 2.25 percent rate. The Federal Open Market Committe has four meetings remaining in the year.