Waiting for Yellen–Is It Really That Important?
By: Tim McPartland,
We are waiting for the afternoon announcement from the FED just like those that work in the financial markets, but we have to ask ourselves ‘is it really THAT important?”.
For us we are hoping for a modest raise in the FED funds rate so we can get it behind us and make some plans (purchases) without being jerked around on a daily basis by the jokers that are always using interest rates as an excuse to run prices up and down. Of course there will be other excuses available by the crooks and thieves to move markets, but we can live with that–it has become the normal day.
It is about 2 hours until the FED announcement and these markets are NOT set up for any increase in rates. This makes a rate increase all the more dangerous (at least for a few hours), but whatever happens we hope that folks can get this off their minds after today.
Is it all that important? No.