“Bad Cop” Fischer Spoils “Good Cop” Yellen’s Party: Stocks Plunge, VIX Spikes…(They’re Both Nuts…)
by Tyler Durden
ZeroHedge.com
Aug 26, 2016
Despite Yellen’s hawkish tone, market participants clung to dovish hopes in her words… but Stan Fischer just clarified “Yellen’s comments are consistent with a possible September hike” and that has spoiled th eparty in stocks, bonds, gold, and the dollar…
Fischer explains…
*FISCHER: I DON’T THINK FED IS BEHIND THE CURVE
*FISCHER: ECONOMIC PICTURE IS VERY COMPLEX
*FISCHER: YELLEN’S COMMENTS CONSISTENT WITH POSSIBLE SEPT. HIKE
*FISCHER: BIG ISSUES IN GROWTH ARE INVESTMENT, PRODUCTIVITY
*FISCHER: ON EMPLOYMENT, WE’RE DOING WELL
*FISCHER: FED IS RESOLUTELY NOT A POLITICAL BODY
*FISCHER: WE AREN’T ELECTION FORECASTERS; LOOK AT ECO. SIGNALS
*FISCHER: IN FOMC MEETINGS WE DO DISCUSS SUBGROUPS OF EMPLOYMENT
*FISCHER: NOT TOO CONCERNED ABOUT ASSET BUBBLES NOW
And the market reacts…
The Rest…HERE
