Joined January 2009
And this is where Bullard realized the Fed has no control over supply. The only thing the is missing from closing the loop is + NFP. That will change very soon
At some point Fed will concede it has no control over supply. That's when we will start getting leaks of raising the inflation target
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Dudley's main argument for why no inflation target increase: "retiring baby boomers will reduce savings...addressing climate change will require investment" - yes it will, $150 trillion over 50 years, most of which will come from QE. zerohedge.com/energy/one-ban…
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*BULLARD: `I DON'T THINK' A RECESSION `IS INEVITABLE' Bullard's forecasting track record is impeccable
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*IRELAND PLANS TO ALLOW BANKER BONUSES UP TO €20,000:IRISH TIMES What is this? A bonus for ants?
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GS Prime: everyone shorting energy stocks; cc @WallStCynic
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AAII Sentiment (bulls less bears) is negative for 35 consecutive weeks, breaking the Feb-Oct 2020 record of 34 weeks.
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No bear market has ever ended before the associated recession had begun: TS Lombard
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Credit impulse is back
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funny how karma works
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Rabobank on the @nytimes inviting "philanthropist" @SBF_FTX to speak at its 'summit': "Madoff obviously wasn't available"
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-70.6%
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Imagine actually doing a 5 second search before writing a brilliant hit piece.
Sam Bankman-Fried reportedly owns a $100 million stake in Elon Musk's Twitter trib.al/B6tYbV5
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Warren Calls for Crackdown on High Prices at Supermarkets
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LOL
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ICYMI: how to tell your employees that you stole billions from the now bankrupt company which left it insolvent and without liquidity: call it "loans" which were "generally" not used for "large amounts of personal consumption"
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Crude -3.690MM, Exp. -2.614MM Gasoline +3.058MM Distillates +1.718MM Cushing -887MM Production unch at 12.1MM SPR drained by another 1.6MM, to 391MM barrels, lowest since March 1984
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How is this possible? the median new home price just hit a record $493,000, up 8.2% M/M from $455,700 in Sept, and up from $427,300 a year ago
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All inflation expectations
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FTX hit with record bank run, files for bankruptcy in days Credit Suisse hit with record bank run, SNB and Fed both rush to rescue the bank
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Initial claims change by state: ugly
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