The New York Fed's new comic book teaches kids about monetary policy via aliens and ice cream, which feels right these days.
What’s more, the central bank might even think that’s a **good** thing.
Because this ‘telling it like it is’ shit is killing the markets.
If that doesn’t sound like news, that’s because it isn’t.
But New York decided to hire San Francisco’s old (white, male) president, instead.
It's basically a non-event (for us).
The presidents of the Cleveland and San Francisco have better things to do than placate the alarmists, like clean the crud out from under their fingernails.
He said, she said, he said.
It's been a busy day for Federal Reserve presidents: Three of the 12 have made pronouncements today. This morning (really, really early this morning, since he was in Hong Kong), we heard from Chicago's Chuck Evans. Now, we hear from two others, San Francisco's John Williams and Atlanta's Dennis Lockhart, who've just finished their turns on the FOMC, on matters QE.