Sunday, August 21, 2016

SUNDAY 8/21/16; Fed Vice Chairman Fischer Speaks

50 are killed at a Kurdish wedding celebration in Turkey by a 12-year old suicide bomber. What a sick religion to strap a bomb to a child and send him on a murderous deed. 100 are wounded. Turkey blames the ISIS Islamist radicals for the 

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The Fed is playing the same old games trying to keep the idea of a rate hike on the table but the market does not believe the jawboning. Fed Funds futures indicate a 20% chance of a hike next month and only a 50% chance in December. Fischer is laying out the hawkish vibe ahead of Yellen’s speech on Friday at Jackson Hole. Even though Fischer’s words are not believed by market participants, the dollar will rise on the hawkish comments.

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