This picture scraped off Bloomberg’s homepage says it all about the wisdom of a rate hike now and the Fed’s so-called communication problem. I say so-called because there aren’t too many ways to have their cake and eat it too, to tighten without tightening, which is what many of the FOMC members spent all day and most of year telling us they’re going to do.


But really, I can’t fight it anymore and my advice is to just hike it. And they should go big or just stay home, like perhaps take the guidance from a couple of years ago that said the FF rate would be 3.5% at the end of 2015 – and just do it instead of carrying on with the drama, leaving us with the slow-motion train wreck sensation.

Then maybe all of the misguided conjecture will be over with, Congress can commence ravaging the Fed, Fed critters can all be fired like they deserve, and we can live happily ever after.