The Phaserl


IMF Issues Second Major Warning About Global Turmoil

from KingWorldNews:

The IMF Warns Again – The IMF has cautioned the Fed and other central banks about any tightening of policy in the current environment. That’s the IMF’s second warning to the Fed.

The World Bank has also warned against a Fed move as has former Treasury Secretary, Larry Summers. Many prominent traders have also cautioned against a move. Among them are Stan Druckenmiller (below) and Jeff Gundlach.

I think that presents a formidable problem for the Fed. If they brush aside these cautions and go ahead, what happens if there is an unintended negative consequence? The world might say – You were warned but pushed ahead anyway. Would that destroy the Fed’s credibility? It’s a distinct possibility.

Meanwhile, Wall Street watering holes are filled with rumors (unconfirmed) that Fed staff are polling Primary Dealers and others about what disruptive results might occur.

Art Cashin continues @

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