It's up! It's down! It's UP again! It's DOWN again!
Thursday, September 26, 2013
Stocks Reverse Again, Rocket Higher Following Kocherlakota Speech Promising Still More Fed Intervention
from Business Insider:
Today, Minneapolis Fed President Narayana Kocherlakota, is suggesting we may need even more stimulus to get unemployment down and the economy humming.
The dovish Fed official employs buzz phrases like "whatever it takes," and he even suggests the Fed should ignore warnings of asset bubbles as it stimulates.
- Interest rates remain near historic lows.
- Economic growth rises above historical averages.
- Per capita employment begins to rise appreciably.
- Asset prices rise to unusually high levels, leading to concerns about “bubbles.”
- The medium-term inflation outlook rises temporarily above 2 percent.
And stocks have reversed again and are moving higher, after going back to dead flat.