by Bill Holter, Miles Franklin:
Wednesday is yet another Fed meeting where we get to hear “policy” from them. So many times in the past, the upcoming meeting has been called “THE” most important meeting ever. This one is being called the same thing. I have mentioned more than a few times in the past six years “what can they really say?”. I’ve done this because the Fed never had any choices.
Do they have any choices now and for this meeting? Let’s look at what they can do, what they cannot do and what they shouldn’t do. The first option is for the Fed to do nothing and not even change what their mantra has been for so long by remaining “patient”. If this is their choice and I suspect it should be, the question then begs whether the markets will remain patient with the Fed? An impatient market place would presumably cast their vote in the Treasury and dollar markets amongst others.
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