There's a curious rhyme to Fed policy that's worth noting. Year-to-date, the Fed has pivoted from...
- Hawkish, December
- Dovish, March
- Hawkish, May
- Dovish, June
- Hawkish, July
Even more interesting is the effervescent hopes and dreams of most regional Fed governors about raising interest rates. That manifests most foolishly in San Francisco Fed head John Williams who forsaw as many as five rate hikes in 2016.
It doesn't end there...
Here's the latest nonsense from Dallas Fed president Robert Kaplan which reaffirms our #LowerForLonger call on interest rates:
8/25/16: Dallas Fed head Kaplan sees rate hike in the "not too distant future."
4/16/16: Dallas Fed head Kaplan sees rate hike in the "not too distant future."
Rather than studying the basic history of economic cycles, Fed officials are digging in their heels and clenching onto their dogmatic economic ideas. Central bankers from all over the world are dogpiling into Jackson Hole for this week's Fed-sponsored economic symposium. The theme of the meeting is "Designing Resilient Monetary Policy Frameworks For The Future."
In other words, if you're hoping the central planning will stop, don't hold your breath.