Fisher reports from inside the FOMC: it’s getting more hawkish and will hike interest rates sooner than expected. Markets are in denial. Not going to be pretty.
Natural gas ‘exporters’ took in billions, stocks soared fabulously. Alas, there isn’t enough US natural gas to export. How could this happen? Consensual hallucination.
Investors’ forecasts of rate hikes are well below those by Fed governors. “And it wouldn’t be good” if the gap gets closed “with great rapidity,” frets Fed Governor Lacker.
The powerful engine that is supposed to pull Europe out of its quagmire? It stalls as the sanctions hit. The “disaster of 2008” is evoked, then hastily denied.
