The Fed Loses Its Patience

The FOMC statement was missing the crucial word yesterday, although Janet Yellen told the audience that doesn’t mean the FOMC won’t be patient. Go figure.

Morgan Stanley gave up, and suggests now that the Fed will not raise rates this year: http://uk.businessinsider.com/morgan-stanley-no-rate-hike-this-year-2015-3?r=US

A much different take from CNN Money: http://money.cnn.com/2015/03/18/investing/federal-reserve-rate-announcement/index.html

An interesting insight comes from Jesse’s Café Américain, about Stanley Fischer working behind the scenes for less forward guidance: http://jessescrossroadscafe.blogspot.fr/2015/03/fomc-losing-patience.html

In the end, nobody knows what the Fed will do, probably not even the committee. David Stockman bashes them for the long-term implications of their policy: http://davidstockmanscontracorner.com/the-financial-folly-lurking-beneath-yellens-patient-lack-of-impatience/