Not a voting member in 2016
- Time will tell if fed is behind curve.
- Sees word gradual as function of FOMC forecasts
- Challenge is to not be predictable or surprise markets.
- Stable oil, US dollar would push inflation up noticeably.
- Public should see every FOMC meeting is Live Meeting
- Too soon to see if he favors fed rate rise in January
- FOMC sees balance sheet shrinking as data dependent
Lacker is a hawk. The market is not reacting to his comments.
- The stock market continues to be pressured:
- S&P is down 1.21%
- NASDAQ is down 1.11%
- Dow is down 287 points or 1.64%
- 2-year 0.964% minus 2 basis points
- 10 year 2.1987%, -2.4 basis points
- 30 year 2.908% -2 basis points
US bond yields are nearer low yield levels for the day
Gold is up 1.5% on the day.
- Crude oil is trading at $34.61. The low for the day is $34.29. The high is $35.57