So Jay Powell gave into the whining child and gave some milk and cookies to the markets, with a stern warning that it was a one-time thing and next time everyone would have to eat their vegetables. Boston Fed chief Eric Rosengren can hardly hide his disgust. “Ensure against downside risk from weak global growth and trade tensions”? Horsefeathers! What this sniveling economy needs is some tough love.

“With the unemployment rate near 50-year lows and inflation likely to rise toward the 2 percent target, and with financial stability concerns being somewhat elevated given near-record equity prices and corporate leverage, I do not see a clear and compelling case for additional monetary accommodation at this time,” Boston Fed leader Eric Rosengren said.

No. Now is the time to kick this economy in the fanny and tell it to pull itself up by its bootstraps like a real man. I mean, just look at the temper-tantrum thrown in the wake of the cut. Snowflakes! Why, Rosengren has never seen such a sissified monetary policy. He’s got a right mind to whip the markets into shape with some medicine balls and raw eggs in a cup.

Fed’s Rosengren Doesn’t See ‘Clear and Compelling Case’ for Interest-Rate Cut [WSJ]



Forget Jay Powell: Thomas Jordan For Fed Chair

That guy really knows how to make central banking pay.


Old Man Bernanke Has No Idea What He’s Talking About, Slightly Less Old Mark Carney Says

The Bank of England governor knows its been a while since the Beard central banked, but this plenty of tools talk is utter nonsense.

By Claygate at en.wikipedia [Public domain], from Wikimedia Commons

The Winnebago Economy Is Breaking Down

As goes the RV industry, so goes the nation.



The year in central bank lame duckery.

Jay Powell

Jay Powell Coins A Fedspeak Neologism

Among central bankers, “powerful” will now be used to connote howling, helpless impotence.

Jay Powell

Goldman Sachs Decides Fed Probably Isn’t Lying

The Elect will take the central bank at its word… for now.


Donald Trump Is So Not The Reason The Fed’s Not Raising Rates For A While

It’s, like, elevated corporate borrowing or signs of economic weakness or, like, something else.