It's Fed silly season again

It is Fed silly season. Again! It rolls around quarterly or more frequently for those that follow their publications.Pre-event pundits jabber endlessly. A common thread to every Fed meeting is that this one, this very one, is the most important ever.That is a constant. As an aside, it is also a constant regarding a Presidential speech ("the most important of his Presidency"), a debate, an interview, etc. How fortunate that we live in such truly amazing times! Or, perhaps we have pundits that manufacture news rather than report it. Or, perhaps these pundits are remunerated by the number of words.The Fed ritual, however, is the topic. The presumed Fed wizards all gather behind closed doors, supposedly peruse enormous amounts of data and determine what it means for the economy. The brain power is so great and the focus so intense, that special air-conditioning equipment is rumored to be necessary to keep craniums from melting.Outside the usual suspects gather, wait and...(Read Full Post)