As Freud is reputed to have said…
Analysts are doing cartwheels to impress each other by going back to the Greenspan-era to say that the addition of “monitor closely” means the Fed is going to ease before the next meeting.
These guys are still trying to work out if the warm winter distorted the data early this year. Does it make a damn bit of difference if the add more QE in the middle of August or the middle of September? I doubt it.
