According to BBGs Jeanna Smialek
Fed Superstars Lay Out a Map for the Central Bank’s Big Rethink
Basically a propaganda planning exercise whereby the Fed Superstars scheming how to bamboozle business and consumer expectations or how to propagandize so that "People would believe that the Fed was willing to leave rates on hold, the idea goes, so growth and inflation wouldn’t drop as much, and voilà. Crisis averted." ... "with simpler policies might be easier to explain to the general public -- and better communication leads to better outcomes." the last according to Jeanna
john 21:52 Feb 19, 2019
Fed Meeting Minutes Wednesday
I believe they are sincere in their intentions, however I have my doubts about their competency to execute their goals.
Trivia about Federal Reserve the responsibility to conduct monetary policy "so as to:
1) promote effectively the goals of maximum employment,
2) stable prices, and
3) moderate long-term interest rates."
That is THREE. Not TWO.
Below is link to Clarida s recent speech in which he makes plenty of mistakes not least of which is his sticking to the concept of centering policy s focus on the 2% inflation - a mistake as a sign of economic growth and not rising prices.
The other issue of course is whether clarida / powell and their over 2000 economist confederates are incompetent as you suspect or if they are just naturally and deliberately evil by misrepresenting inflation.
As I see it offers two things:
a) opportunity for more academic debate by economists
b) elements on which to formulate trading / investment strategies by market participants.
For me b) has more interest.
Fed Chairman Powell: Market volatility won't stop more rate hikes
Federal Reserve Chairman Jerome Powell downplays concerns over market volatility and says the central bank remains on course for more interest rate hikes -
He appears to heed "Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognizing that some turbulence in financial markets will have to be negotiated along the way. ... Even if there are some short-term bumps in the road ... whatever we do, we will have to do it in a very careful way,� BIS�s head of research, Hyun Song Shin, told Reuters. JP 09:32 GMT September 18, 2017 link
but he appears to have been well prepared - indeed
thing that remains to be seen is how ready to stick it out he will be on the next market puke
GVI Trader john 19:59:14 GMT - 02/27/2018
Let's wait until Thursday to see how reacts to the market reaction to his testimony. So far he has not knocked my socks off, but he had been well prepared.
Mtl JP 19:44:18 GMT - 02/27/2018
so john u ready to pronounce on Markets measure of the man or wait till Th ?
GVI Trader john 19:19:51 GMT - 02/27/2018
Equities have sold off on Powell. I doubt this was his intention. Chatter he opened the door to four rate hikes. This strikes me as a stretch. He testifies again on Thursday and will have a chance to "correct" any misconceptions he feels the market has taken from from his first appearance.
Unrelated, imho, the EUR is in a liquidating market.
Mtl JP 19:19:07 GMT - 02/27/2018
For the record:
..."what we’ve seen is incoming data that suggests that strengthening in the economy. We’ve seen continuing strength in the labor market. We’ve seen some data that will, in my case, add some confidence to my view that inflation is moving up to target. We’ve also seen continued strength around the globe, and we’ve seen fiscal policy become more stimulative."... powell Feb 27 2018
Number of times past tense verbs (we’ve seen) appears: 5x
I challenge jerome and gang to a consistent steady reduction of their $4.4 trillion balance sheet
london red 15:14:25 GMT - 02/27/2018
london red 15:12:54 GMT - 02/27/2018
dxy channel 90.19. significant.
london red 15:09:21 GMT - 02/27/2018
euro channel line by 12234, likely to shelter stops. below 12200/05. bigger interest to buy begins 12165 down towards 120. topside 12365 caps the upside short term. abv 12435/40 points to 125. v lrg 2 wk euro calls bought today with a 125 strike, likely a play on ital elction at wkend.
Mtl JP 14:51:47 GMT - 02/27/2018
200 day 131.23 - still support
Mtl JP 14:36:19 GMT - 02/27/2018
coincidental at 10am
Conference Board Consumer Confidence 126.5 vs 125.4
gv risk A rating
Mtl JP 14:31:27 GMT - 02/27/2018
ok... maybe wait for his testimony at top of the hour for the measure
Mtl JP 14:18:47 GMT - 02/27/2018
GVI Trader john 10:21 re "Powell testimony will dominate. Markets will be wanting take the measure of the man."
And the market measure is:_
incompetent... ... smart ... ...giant
Mtl JP 13:49:44 GMT - 02/27/2018
biased to sell euro rallies while under 1.2345
and trying to keep it simple
GVI Trader john 10:56:12 GMT - 02/27/2018
10-yr 2.873% +0.7bp
GVI Trader john 10:21:19 GMT - 02/27/2018
Today sees a slew of U.S. economic data, but the Powell testimony will dominate. Markets will be wanting take the measure of the man. the prepared text (13:30 GMT) should tell tell us what we need to know about policy. I expect a signal of continuity.
Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
John M. Bland, MBA co-founding Partner, Global-View.com
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.
The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.
Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.
Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.
Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.