The Fed voting rotation has just ejected all the hawks and brought in a bunch of doves. The only voting hawk will now be Jeffy Lacker, who is sure to have a series of lone dissents this year.
Get ready for QE3!
CNBC:
Federal Reserve officials are seriously considering giving the US economy—and especially the housing market—an added jolt with more quantitative easing.
Fed officials are likely to discuss such a move at their Jan. 24-25 meeting, when the central bank will issue its first quarterly forecast on interest rates under the new communication policy.
Two of the new voting members this year on the Federal Open Market Committee, which sets interest-rate policy, have recently suggested they would support more assets purchases.
San Francisco Fed President John Williams said that sustained high levels of unemployment, as forecast by many Fed members, "does make an argument that we should have more stimulus." Hurry up, Fedsters! Those trillion-dollar deficits aren't going to monetize themselves!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
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