Stop Obsessing About the Fed, Mishkin Pleads

Stop Obsessing About the Fed, Mishkin Pleads

www.marketwatch.com

Markets are too focused on a trivial debate over how much the Federal Reserve will cut interest rates, a top Fed official said Friday.
It's the journey, not the stopping-off points along the way, that merit attention, said Fed Gov. Frederic Mishkin in a speech in New York.
"What is important for pricing most financial assets is the path of monetary policy, not the particular action taken at a single meeting," Mishkin said, adding that he hopes the Fed's more transparent communication policy can shift attention away from the medium term.

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Is it just me or did this guy basicly talk out both sides of his mouth? No matter what happens this Mishkin seems to have all the bases covered.

This week has been a very jittery one for the market with less than favorable news, troubling reports, hint of a fed rate cut AGAIN, looks like the printing presses will be running soon...

The dow also looking at another substantial loss today as I type it is down over 200 pts.

Wow, I guess we never saw this coming...




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