Posted on 01/10/2016 3:38:45 PM PST by Lorianne
Fed governors sometimes tell the truth, but generally only after they leave office, and always after the damage has been done.
In that regard, former Dallas Fed president Richard Fisher admits "We frontloaded a tremendous market rally to create a wealth effect ... The Federal Reserve is a giant weapon that has no ammunition left."
The embedded video will not play in-line, but you can view it on You-Tube by clicking a second time on the notice.
Read more at http://globaleconomicanalysis.blogspot.com/2016/01/former-dallas-fed-governor-richard.html#ZgISTA0OmHesJjp4.99
(Excerpt) Read more at globaleconomicanalysis.blogspot.com ...
I saw Fisher speak two years ago.
Then he was saying that it’s time to return to nominal interest rates and let the market shake out. He also said that he was a minority vote and for political reasons the Fed would ride zero interest rates into the ground.
Now. He didn’t use those exact words because he was on the board. But. He made his point.
The fed is ‘out of ammunition’ to prop up this fake market and fake prosperity Obama and his minions have been claiming for years now.
A 20% correction would put the market back to around 15,000.
Lot of bloodletting still to go!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.