Top 10 Things You May Not Have Known About the FOMC

With the Fed decision out, you already know the most salient information about what the FOMC did today. What follows are the top 10 things about the FOMC you probably don’t know about:

>

Top 10 Things You May Not Have Known About the FOMC

10.  The Fed exists to insure maximum employment, price stability and moderate long term rates. Their purpose is not to backstop speculators 

9.  4.25% Funds rate very accommodative and historically low.

8.  Between votes, Fed Governors make fun of BLS economists.

7. Overheard at FOMC meetings: “What would Greenspan do? Let’s do the opposite!”

6. Jealous that Jean Claude Trichet gets to hang out with Gisele Bundchen

5. Doesn’t give a rat’s ass what Cramer thinks.

4. "Then it’s resolved, we print more money and we make more speeches . . ."

3. There is no Santa Clause — just some guy with a beard named Ben.

2.  Has been long Gold and short the Dollar since 2003.

and the #1 thing you may not have known about the FOMC:

1.  “Hey, Wall Street: We’re not your Bitch anymore.”

 

>
Feel free to come up with your own additions in comments . . .

Category: Federal Reserve

Uh-Oh . . .

Shorter Fed Statement:

Cut 1/4 point federal funds rate
Cut 1/4 point discount rate
Growth slowing, inflation risks remain

Mr. Market no-likey the no-happy talk . . . Dow off 175 275 as I type this

~~~

Complete Fed statement after the jump . . .

>

Read More

Category: Credit, Economy, Federal Reserve, Fixed Income/Interest Rates, Inflation

The Fed and LIBOR

Category: Federal Reserve, Fixed Income/Interest Rates, Inflation

Irrational Exuberance

Category: Federal Reserve

Sector Performance Following Fed Cuts

Category: Economy, Federal Reserve, Technical Analysis

No, Pending Home Sales Index Did Not Rise

Category: Credit, Data Analysis, Real Estate

“Economics and Business” Books of the Year (Economist)

Category: Books

14,164.53* (Read it here first)

Category: Financial Press

Damn Spammers!

Category: Weblogs

How Big Is It?

Category: Credit, Derivatives, Real Estate