Comments from Goldman Sachs Group President Gary Cohn, saying that the Fed hike, when it comes, will catch some in the market off guard
"We're probably less ready than people think. It won't at all be surprising to me if there are some interesting market reactions based on official change in rate policy by the Fed."
Cohn cited quantitative easing in the U.S. and Europe as examples of macroeconomic events that were long expected and still caused market swings when announced.
One thing that can't be said is the Fed hasn't telegraphed that hikes are on the way. But that won't stop the whining when it happens. :-D
