With August upon us and many readers likely at the beach, here is some levity from one side of the vocal debate on the future of Fed policy. Please hum the melody of Hey Jude as you read the lyrics. With thanks and credit to the Beatles.


“Hey Janet”

Hey Janet, don’t make it bad
Take easy money and make it less so
Remember the last time rates stayed too low for too long
Then you can start to make it better

Hey Janet, don’t be afraid
The bed is made but please don’t wait
The minute that you raise rates will hurt but
Then you begin to make it better

And anytime you feel the pain, hey Janet, don’t refrain
Don’t carry the world upon your shoulders
For well you know that it’s a fool who plays it cool
By making his/her world a little colder
Nah nah nah nah nah nah nah nah nah

Hey Janet, don’t let me down
Lower unemployment and higher inflation are here
Remember the last time rates stayed too low for too long
Then you can start to make it better

So let it out and let it in, hey Janet, begin
You’re waiting for someone to perform with
And don’t you know that it’s just you? Hey Janet, you’ll do
The movement you need is on your shoulder
Nah nah nah nah nah nah nah nah nah

Hey Janet, don’t make it bad
Take easy money and make it less so
Remember the past voracious demand for yield
Then you’ll begin to make it BETTER, BETTER, BETTER, BETTER, BETTER, BETTER…



Peter Boockvar
Managing Director
Chief Market Analyst
The Lindsey Group LLC
Direct: 973-251-2063

Category: Federal Reserve, Fixed Income/Interest Rates, Humor, Music

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

5 Responses to “Hey, Janet (with apologies to the Beatles)”

  1. Kevin Doogan says:

    “The Battle Royale b/w Big Ben and the Mr. Market has been taken to a new level. The text on the economy acknowledged the slowing pace of deterioration as household spending has shown signs of stabilizing and the outlook has somewhat improved from the March timeframe but “economic activity is likely to remain weak for a time.” The talk on inflation was about identical to the March statement in that they expect inflation to persist for a time “below rates that best foster economic growth and price stability in the longer term” in contrast to recent market messages.”
    - Peter Boockvar, April 29, 2009

    Take it away Steve Liesman: “It’s impossible for you to have been more wrong… Your call for inflation, the destruction of the dollar, the failure of the U.S. economy to rebound.. it’s impossible for you to have been more wrong. Every single bit of advice you gave would’ve lost people money.”

    • Peter Boockvaar says:

      “The quote you posted was just a summary of the April 2009 FOMC statement and the quote you gave from Steve Liesman was said to Rick Santelli a few weeks ago. What’s the connection between the two posts of yours?”

      • Kevin Doogan says:

        Not sure if this is an impersonator or if the real Peter Boockvar mis-spelled his last name, but I’ll entertain the comment: The connection is that, much like Santelli, you (or the real Peter Boockvar) have been fulminating against Fed policy with respect to supposed inflation (see the “in contrast to recent market messages” part above) for the past 5 years (even going so far as to praise ECB policy in contrast to Fed policy) and, drum-roll… you have been spectacularly, unequivocally wrong. And now, in August 2014, you are still at it. Also, much like Santelli, your commentary has a very explicit political weakness that often gets summarily dismissed on The Big Picture blog.

  2. ERISANation says:

    Never were the dangers or parodies more glaring…

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