Sick and tired of all this hemming and hawing and fainting about interest rates? Wanna let the Fed really have it? Well, you’re in luck, if you are Jim Chanos or Mary Erdoes or Josh Harris or Alan Howard or PTJ3 or Mike Novogratz or Jes Staley or David Tepper or one of their colleagues on the New York Fed’s Investor Advisory Committee on Financial Markets. They’ll be speaking for all of us a week from today when New York Fed chief Bill Dudley asks them to “characterize recent Federal Reserve communications.” We’ll see if the words “completely opaque and yet all over the map at the same time,” “slightly less believable than an episode of ‘Scandal,’” or “Get off zero now!” appear in the minutes.
Until then, we’d like to invite some talking points in the comments. We’ll be sure to pass them along to Tepper when we visit the new place this weekend.
At the meeting, the New York Fed will hear investors’ “interpretation of the September [Federal Open Market Committee] events” and how they would “characterize recent Federal Reserve communications” around policy making, according to the agenda….The discussion about the Fed’s communication challenges comes as the central bank has signaled it plans to raise short-term interest rates but is waiting for more signs that the U.S. economy remains on a solid footing despite recent global market turmoil and other events overseas.