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Started By
Message
Kashkari speaks, market drops
Posted on 9/27/22 at 12:40 pm
Posted on 9/27/22 at 12:40 pm
LINK
Bullet points:
Translation for those (like me) waiting to buy:
Bullet points:
quote:
-We are moving at an appropraite aggressive pace
-There is a lot of tightening in the pipeline
-We are committed to restoring price stability and markets understand that
-How much we need to do will be determined by the supply side
-Markets understand what the Fed is doing
-We need to keep tightening policy until we see compelling evidence that underlying inflation has peaked and is heading down
-We will not repeat past mistake of cutting rates once economy weakens
-Policy stance is tight now
Translation for those (like me) waiting to buy:
3
Posted on 9/27/22 at 12:47 pm to Bard
These fed bank presidents should be under a gag order. They need to keep their mouths shut.
Posted on 9/27/22 at 12:52 pm to TDTOM
They do it all the time. Powell likes to run his mouth and talk the market down.
Posted on 9/27/22 at 12:56 pm to FlyingTiger1955
If I didn’t know any better, I would have thought that was a hedge fund manager who is trying to talk a price down because he has a short position; but no, it’s the friggin fed who is doing it.
Posted on 9/27/22 at 12:58 pm to TDTOM
quote:
These fed bank presidents should be under a gag order. They need to keep their mouths shut.
There's nothing new in what he said. The market dumping because he only restated the same thing the Fed has been saying over and over again for most of the year does nothing but underscore how much of these rate hikes aren't priced in and how desperate the market is to resist doing so.
Posted on 9/27/22 at 1:04 pm to Bard
quote:
-We will not repeat past mistake of cutting rates once economy weakens
This portion, more so than others, is likely the cause of the market's abrupt 180 turn today.
Posted on 9/27/22 at 1:20 pm to Bard
It almost like we have a centrally planned economy like China...... Almost.
Posted on 9/27/22 at 1:43 pm to skewbs
It’ll come back. Someday
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