Friday, February 6, 2015

Charles Plosser

On CNBC thiss morning BEFORE the Non-Farm Payrolls came out, although I'm quite sure he already had the data argued,

  "Data do not justify zero rates"

On the term, "Patient", 

"It never should have been there in the first place...It's just another example of people thinking in terms of calendar dates or number of meetings."

On the economy,

"We have to stop thinking of us as an economy in crisis all the time.  We are functioning as a normal economy now."

And finally that he will argue for rate hikes sooner than later, although he is due to retire and not a voting member, but he is a contributing member to the F_O_M_C committee.

Perhaps the market is starting to finally realize that stronger jobs is of no help to it as the deliberations continue and the knee jerk reaction continues to fade...
ES 1 min this morning after the Jobs data.

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