We at Notes From Underground haven’t been publishing as frequently but we have been working more intensively than ever. The global financial situation is fraught with many areas of potential hazards to shock the established complacencies of current equity market rallies.
Posts Tagged ‘hawks’
Notes From Underground: So Many Piles of Dry Tinder
July 17, 2023Notes From Underground: Consensus is the Last Refuge of Cowards (Michael Crichton)
April 27, 2016Today the Fed delivered as expected, leaving rates unchanged and the market conjecturing about the sincerity of the FED’s data dependency (again). Some analysts and algo readers initially thought the FOMC statement was “hawkish” because the FED removed most of the rhetoric about the headwinds of international global and financial developments. I say most because the Fed left in “net exports have been soft.” This is either a concern about the lack of global growth and/or an overly strong U.S. dollar. It is MY OPINION that the Fed removed the language about international financial risks as an offering to the HAWKS as a way to get consensus.
Notes From Underground: WAS BERNANKE HAWKING A HAWKISH OUTLOOK???
June 22, 2011I feel like I’m the odd analyst out in that Bernanke failed to impress upon me that he is a DOVE in HAWKS’ feathers. Reading the FOMC statement over and over leaves me wondering just what made the statement so strong an anti-inflation stance. The FOMC release reiterated that the FED is relying on closing the output gaps, “including low rates of resource utilization and a subdued outlook for inflation over the medium run–are likely to warrant exceptionally low levels for the federal funds rate for an extended period.” This is not the musings of an inflation HAWK.
Notes From Underground: The Transitory Nature of Harsh Rhetoric
April 28, 2011Between every FOMC meeting we hear from Plosser, Fisher and others that the FED needs to reign in QE2 and start reversing the huge amount of liquidity that it has added to the financial system. The airwaves are filled with the dissenting voices of the “monetary hawks” proclaiming their fidelity to edicts of responsible monetary policy. However, come the scheduled meetings, the “HAWKS” become detaloned as they fall prey to the soft coos of the “doves.” It seems that entrance into the FED’s citadel requires that one must leave individualistic thought in your home district and resolve to join the consensus.