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How markets are calling Fed's bluff: Ex-Fed gov
The markets have been "absolutely spoiled by the Federal Reserve" and its accommodative monetary policy since the depths of the 2008 financial crisis, former Fed Gov. Kevin Warsh said Tuesday. "Now, I would say the markets are exhausted. They're exhausted that the Fed has decided there's a new set of benchmarks," he told CNBC's "Squawk Box" in an interview. "Before it was forward guidance. Now it's, 'Just kidding about forward guidance.'" Citing the sliding unemployment threshold for considering an interest rate hike, he said it's now 5.5 percent or even 5 percent, down from 6.5 percent not too long ago. The ... (full story)