How would you have voted?

[Rambo35]

Minutes from the last Fed meeting showed that a significant amount of voting members wanted to do the right thing and scale back on stimulus. Some Fed watchers put the number as high as six votes or 50% of the FOMC in favor of a reduction in stimulus or tapering if you wish.

Assume for a moment you were one of the FOMC voting members, how would you have voted and why?

I would have voted to reduce stimulus and let the economy go its natural way which in the end would have been more cost effective, more efficient and would have allowed the economy to eventually go down to road of a sustainable recovery.

 

[Fxpipper]

Allowing the market to correct itself makes perfect sense and after all, the market did prove the Hayek model right and fwiw, Hayek was right.
Intervening in the market can only result in short term gains..
So yes, would have voted to scale down the stimulus.

 

[Enivid]

Where did you get the 50% number? The latest Fed minutes show that only two FOMC members dissented from the vote and one of them said that the inflation too low, so he cannot be anti-stimulus.

 

[Rambo35]

Where did you get the 50% number? The latest Fed minutes show that only two FOMC members dissented from the vote and one of them said that the inflation too low, so he cannot be anti-stimulus.

Yes, only two actually voted but a report leaked to Bloomberg (I think) said that four where on the line and changed their mind last minute. I am against QE, but that is another long and heated debate.

 

[Fxpipper]

I read the same report and FYI, bloomberg usually gets their facts right..
Never mind, did anyone catch Big Ber's deposition to congress?

 

[Rambo35]

Every time he opens his mouth I hear 'd'oh'.

 

[Fxpipper]

Let's look on the bright side - it ain't getting any more gloomy..but we sure would love to see the light at the end of the fed's approach to the dark side, move over palatine - big brother's coming (re: fed policies, prism, etc)

 

[Rambo35]

At least we are at the end of his term, that is the bright side to me.

 

[Fxpipper]

At least we are at the end of his term, that is the bright side to me.

I know, can hardly wait for the next person on the block and the new policies - look at the bright side, things just cant get any worse..
On the copy and paste action, thanks for the laughs..guess the posters' keyboard has gone awol..

 

[Rambo35]

I know, can hardly wait for the next person on the block and the new policies - look at the bright side, things just cant get any worse..
On the copy and paste action, thanks for the laughs..guess the posters' keyboard has gone awol..

Indeed, it can't get any worse