It pains me to read the Wall Street Journal’s Jon Hilsenrath lately.

The word is that he got cut off from his better sources at the Fed after Yellen took over. He hedges on every call and rarely tips his hat either way so he can retain his veneer as an insider without having to be right.

This is his take after NFP:

The US jobless rate, which falls to 5.9% in September, was already where Fed officials projected last month it would be by year-end. Moreover payroll employment growth is robust, averaging more than 200k per month. That means early interest rate increases next year — though not the Fed’s expected path before today — remain on the table. In addition, officials will need to make a tough decision at their policy meeting later this month about whether to alter their guidance about the interest-rate outlook, or wait until they update their economic forecasts in December before changing the guidance.

Forget “on the table” and “tough decisions” Hilsenrath — Take a side!

Use that finger to point to a direction for the Fed

Use that finger to point to a direction for the Fed, Jonny!