Uber-Dove San Fran F_E_D President, John Williams, Says what All Uber-Bulls Didn't Want to Hear

So we have the hawks circling around rate hikes, we have the Sunny California, Glass is half-full Uber-Dove  Williams circling around rate hikes. The F_E_D is worried about something that goes even beyond their very machismo targeting of 2% inflation, the gold standard of Central Banks' pride.

This has to make you wonder what they see on deck that would cause them to make such ridiculous economic upgrades in the face of a deflationary environment, a missed GDP, the worst start to a year for Macro-Data in a decade, just about everything they need to be in place to raise rates, which is not and they have not had a good track record in forecasting any of it to start with, they are claiming in a very sunny way, it is in place, paving the way for Rate Hikes, which Williams just told CNBC he could see mid year which is quickly becoming a recurring theme among F_E_D speakers, but consider this is the uberest of doves and while he wouldn't say, June, he would say mid-2015 which means that hawks are probably looking a bit earlier.

While I may touch in the details later, there's no translation required, the market's face says it all.

 SPY

QQQ

IWM

All are at or moving toward new lows on the day since the CNBC interview...