Wednesday, November 2, 2011
JPM On The FOMC Announcement: The First Dovish Dissent?
With less than an hour until the 12:30pm FOMC announcement, the time to place your bets is here. The market, up almost 2% already has, and has ignored some truly horrible news out of Europe, betting that the Fed will do something, anything, to boost the global recovery. We are skeptical. Which troubles us because so is everyone else. Below we present the opinion of JPM's Michael Feroli who is also in the same boat: expects no action, yet in that case he anticipates the first Dovish dissent
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