Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
There is a lot of whining being done over the minutes of the FOMC just released which indicated “some members” want to stop Fed purchases before the end of 2013. Of course they expanded purchases. And in that meeting gave us targets for inflation and employment. In the end the only 3 that matter are Ben, Yellen, and Dudley (NY Fed) – everyone else is window dressing. These are three of the easiest members of the Fed (along with Evans). So it’s a lot of hubbub about nothing, in an overbought market looking for an excuse to whine a bit. As always, funny to watch the market have the attention span of a 2 year old.
EDIT 2:20 PM – Bill Gross just went on CNBC and said the exact same thing I typed above, all that matters are the big 3
SEVERAL FOMC MEMBERS THOUGHT WOULD PROBABLY BE APPROPRIATE TO SLOW OR STOP ASSET BUYS “WELL BEFORE” END OF 2013, CITING CONCERNS ABOUT FINANCIAL STABILITY, BALANCE SHEET SIZE
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