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10.30.2014 Did the Fed's Know? Bookmark

This morning we got our first look at the 3rd quarter GDP number and it came in pretty strong at + 3.5%. So the question is this...was the Fed so hawkish in their statement yesterday because they knew they had a strong GDP print in their pocket? You bet they did.
This morning we got our first look at the 3rd quarter GDP number and it came in pretty strong at + 3.5%. So the question is this...was the Fed so hawkish in their statement yesterday because they knew they had a strong GDP print in their pocket? You bet they did.

Now granted the GDP gets revised several times before the "final reading" and that 3.5 will be revised lower. But the Fed's had a data point to act brave about and they did. The bigger question is now this... can the economy and the market stand on its own without QE?  We're about to find out. Frankly, I think we're going to see some trouble as we go forward. Despite the fact that the Fed's will be rolling over their holdings and deploying that, the market has been addicted to ever bigger doses of stimulus juice. Withdrawal pain will show up here and there.

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