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It’s almost time for the Federal Reserve to stop holding the market’s hand…..
In an interview on Tuesday, he said he thinks the time is approaching to phase out forward guidance -- the nearly decade-old practice of pledging continued easy monetary policy. The strategy was used to calm investors in the depths of the financial crisis, and the Fed continues to say rates will remain below levels likely to prevail over the longer run, even as it lifts borrowing costs to prevent overheating.
“We can’t keep talking about policy normalization once we’re around what we think of as a neutral interest rate,” Williams said in Minneapolis, referring to the level of interest rates that neither slows nor speeds up the economy. “So I think this forward guidance, at some point, will be past its shelf life.”
Put/calls a little crazy/confused this morning…
Put/Call Indexes (PCC) spikes over extremes to 1.47 this morning as Put/Call Equities (PCCE) spikes to extremes in the other direction 0.65
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.