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Strategies & Market Trends : Zman Market Timing
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From: zman6912/17/2014 7:20:51 PM
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Fed has lurched definitively toward the hawks. Stan Fischer has evidently overpowered Yellen. Previously the centrists like Lockhart and Williams have been good barometers of the Fed consensus, but both of those said last week that they wanted to keep the "considerable time" language and yet the Fed dropped it. Vice Chair Fischer is the only new voters that could have enough gravitas to pull center of gravity of the Fed toward the hawks like this.

And Fed did not even make a passing mention in their statement of the recent market turmoil and Europe/Russia crisis.

This is very bad news going forward for the markets and the economy.

I would fade today's rally, still looking for a significant drop into month end.
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