Wednesday, February 8, 2017

Fake News, Fake News. Rate Hike Not "On" For March

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*Philadelphia Fed President Patrick Harker had Fed followers in a tizzy.

*He was quoted as saying a rate hike is "on the table."

*Maybe his table, but the rest of the Fed's tables don't have a rate hike.

We did a little investigative research and found that President Harker's comments may have been taken out of context. The Fed is a bunch of doves, maybe even more than last year.
Rate Hike On The Table, Fake News, It's Fake News
Here's what he was quoted as saying in the Wall Street Journal:
"I think March is on the table."
The news media went crazy over this one. A new voting member said a March rate hike is on the table right after the FOMC just met.
Let's see how the Fed Funds futures traders in the pits reacted to this huge news.

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