Talking Feds

(1) Shorter anxiety attacks? (2) Tightening tantrums usually followed by soothing words from a Fed head. (3) Rosengren scares them on Friday. Brainard reassures them on Monday. (4) Trump sees a conspiracy at the Fed. (5) The Joe Biden scenario. (6) Phillips Curve has flattened. (7) Still more slack in labor market. (8) WOW! 20% increase in the dollar = 200bps rate hike according to Fed model, says Brainard. (9) Neutral real rate near zero. (10) So what’s the rush to hike? (11) Yellen now has her talking points for doing nothing at next FOMC meeting!