Fed's rate hike 'baby steps' could backfire: Economist | Forex Factory

  • Fed's rate hike 'baby steps' could backfire: Economist

    From cnbc.com

    The Federal Reserve is potentially limiting its ability to deal with a future economic downturn by taking "baby steps" to raise interest rates, the chief U.S. economist at UBS said Thursday. "You need in good times to build up a reserve of basis points so that when bad times come you can ease again," Maury Harris said on CNBC's "Squawk Box." "If they're going to be in such [slow-motion] when they tighten, heaven help us when there's a real problem and they need to cut rates and they don't have much left." The central bank's Federal Open Market Committee said Wednesday it was unlikely at its April meeting to begin ... (full story)

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dancingphil
Mar 20, 2015 5:48am
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I am reasonably sure that with my 88 million US$, that I can can buy and sell the guy 30-50 times over.

But what is a Phi Beta Kappa? A cross dresser?

I am not a cross dresser, and only did 1 year in Uni part time.

So what!

That said, I take your point too.

It is the NONSENSE of SquakBox that completely loses any credibility in what he has to say. Not in the text nor the video was any tangible argument put forward.

A USELESS news item in other words.

Quoting Scotch
Maury Harris graduated Phi Beta Kappa from U of T, holds a PhD in economics from Columbia, is a managing director and chief economist for the American arm of UBS AG, and has been named one of the fifty most influential people in finance today. Forgive us if, when forced to choose between -that- and 'some guy who posts on Forexfactory sometimes', most people might be inclined to not agree with you. Statistically, that guy will crush you an overwhelming majority of the time.
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frx_trader
Mar 20, 2015 7:50am
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For short period of time, keep watching. AU support .7650. GU support 1.4760. EU support 1.0680. Happy Trading.
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Casimir
Mar 19, 2015 10:20pm
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What an idiot.

Rate cuts are a popgun next to the nuke of QE, which the Fed has already used like Curtis LeMay on a roid rage, and could readily use again.

Further, raising rates prematurely would be generating ammunition tomorrow by shooting yourself in the leg today.

I cannot conceive how the generations of morons needed to breed this idiot survived humanity's difficult past. I can almost picture his grandfather climbing out of a trench into machine gun fire crying out, "C'mon guys! We need to gain yards of dirt now, so that we can retreat in the future!"
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Scotch
Mar 19, 2015 10:59pm
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Quoting Casimir
What an idiot.

Rate cuts are a popgun next to the nuke of QE, which the Fed has already used like Curtis LeMay on a roid rage, and could readily use again.

Further, raising rates prematurely would be generating ammunition tomorrow by shooting yourself in the leg today.

I cannot conceive how the generations of morons needed to breed this idiot survived humanity's difficult past. I can almost picture his grandfather climbing out of a trench into machine gun fire crying out, "C'mon guys! We need to gain yards of dirt now, so that we can...
Maury Harris graduated Phi Beta Kappa from U of T, holds a PhD in economics from Columbia, is a managing director and chief economist for the American arm of UBS AG, and has been named one of the fifty most influential people in finance today. Forgive us if, when forced to choose between -that- and 'some guy who posts on Forexfactory sometimes', most people might be inclined to not agree with you. Statistically, that guy will crush you an overwhelming majority of the time.
Reply
Vince1954
Mar 20, 2015 6:28am
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They don't need to cut rates so the argument is based on a false premise. ZIRP has not helped Main Street because consumers are already maxed out on the credit cards. Only the banksters can profit from ZIRP by betting on rising asset prices, and CEO's by hollowing out shareholder equity by borrowing to pay for share buy backs. A nice little earner if you hold a fistful of stock options.
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Casimir
Mar 19, 2015 11:22pm
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Evaluate dogs on their pedigrees.

Evaluate economists on their arguments.
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