Another faux-hawk takes the dovish tone and walks back the new normal ‘template-less’ Taper tantrum that Bernanke created…
- LACKER SAYS FED NOT ‘ANYWHERE NEAR’ CUTTING BALANCE SHEET SIZE
- LACKER SAYS ‘MAYBE MARKETS GOT A LITTLE BIT AHEAD OF US’ ON QE
So no tightening (duh). (Read more…) But Lacker, once upon a time a hawk too, just like Plosser and Kosher-Lakota (sic), tries to regain some credibility as follows:
- LACKER SAYS HE WOULD BE `FINE’ WITH FOMC TAPERING QE NOW
- LACKER SAYS HE WOULD LIKE TO SEE FED BALANCE SHEET DECREASE
Equities jerked higher by 3-4 S&P points (bonds didn’t) – so it looks like the impact of the jawboning is fading.
[VIA Zero Hedge]