from TF Metals Report:
Wednesday, August 22, 2012 at 4:19 pm
OK, now that we’ve got that FOMC nonsense out of the way, the rallies can continue. How much farther and how fast? Those are the questions.
In case you missed it, the FOMC minutes were QE-bullish. Essentially, The Fed stands ready for more “accommodation” if the economy fails to improve “substantially”. You and I know that this is all bullshit, anyway, as The Fed is nearly out of ammo for additional Operation Twist measures and rates must be kept low permanently in order to sustain/protect The Great Ponzi. Again, review this if necessary: http://www.tfmetalsreport.com/blog/4112/murmurs-10-year-note. However, nearly everyone should review that post because the CoT comments contained therein are also important for this current thread.
Anyway, from RanSquawk at ZH, here are three of the main headlines:
- FOMC says many FOMC members supported extending the Fed late 2014 interest rate guidance, but agreed to defer decision to September meeting
- FOMC says many FOMC members favored easing soon if no sustained growth pickup
- FOMC says many FOMC participants saw new QE as bolstering US recovery
As you can see, these headlines speak for themselves. More QE is on the way, it’s simply a matter of time. The only exception would be renewed, vigorous “growth”. Does anyone rally see that happening anytime soon??
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