Loading ...“Flexible” Fed Loses “Patience”; Cuts Growth, Inflation Forecasts: Redline Comparison
Tyler Durden’s pictureSubmitted by Tyler Durden on 03/18/2015 14:01 -0400
Evan as The “boxed-in” Fed nears the vinegar strokes of its easing cycle, today’s statement continued to offer something for everyone (hawks, doves, bulls, & bears) to hold onto:
*FED DROPS PATIENT STANCE ON INTEREST-RATE RISE GUIDANCE (hawk)
*FED SAYS ECONOMY `HAS MODERATED SOMEWHAT,’ JOB MARKET IMPROVED (dove)
*FED SEES 2015 GDP GROWTH OF 2.3%-2.7% VS 2.6%-3% DEC. EST. (dove)
*FED WANTS TO BE `REASONABLY CONFIDENT’ ON INFLATION FOR LIFTOFF (hawk)
So, despite previous Fed promises, we have seen dismal macro data, no consumption gain from low gas prices, and USD strength headwinds; and yet, as they shift growth expectations in their dot plot, we’re supposed to believe that. The bottom line: Fed to Markets: “you’re on your own”-ish: undertainty is back. Full redline below…