15 Dec 2023 6:41 pm
David Rosenberg: The Fed just woke up and smelled the recessionR.Suave » 15 Dec 2023, 8:41 am » wrote: ↑ https://www.cnn.com/2023/12/13/investin ... index.html
In urging Dark Brandon to go, they awakened a sleeping giant...
I fear to think of where he'll turn his attention next....
If Dark Brandon was an animal, he'd be a Liopleurodon.
Here he is dropping by Mar a Lago...
https://youtube.com/clip/UgkxGcqt1cCL2j ... qSN-rjGZ6G
maybe you hear of Beige Book
нет ?After sifting through the United States Federal Reserve’s forecasts and Jerome Powell’s cadence at the press conference, it seems the entire two-day Federal Open Market Committee meeting this week was spent discussing one thing and one thing only: how far and how fast to cut rates over the next two years.So why did the Fed pull this mea culpa on Dec. 13? The answer is that the Fed is increasingly looking beyond the incoming and oft-revised economic data (with lower-than-normal response rates) and focused much more on what its business contacts are telling them. Nobody seems to believe a recession is plausible and yet the most recent Beige Book shows two-thirds of the U.S. is either flatlining or contracting outright (not one is accelerating). This is a greater share than we saw heading into the 2001 and 2008 recessions.The Beige Book confirmed our suspicion that the third-quarter gross domestic product report was an aberration and likely borrowed heavily from future growth. Keep in mind that when it concluded that “economic activity slowed since the previous report,” that followed a statement that “most districts indicated little to no change in economic activity” and that was from six weeks ago. Going to “slowed” from “little or no change” is contraction when you look at the wording from a perspective of economic momentum.
https://www.yahoo.com/finance/news/davi ... 26373.html
