Monday, September 10, 2012

Credit Suisse on Federal Reserve Rate Decisions Prior to Presidential Elections

"History is more or less bunk..."
- Henry Ford (interview with Charles N. Wheeler, Chicago Tribune, May 25, 1916)*
From ZeroHedge:
Will The Political Fed Launch New QE With Less Than Two Months To The Election? A Historical Perspective
In two days the entire world will learn if the Fed will do away with all pretense it is not a political agency, and despite a presidential election looking in less than two months, proceed with a third historic round of easing, which according to "experts" may range from nothing (yes, some actually see no point at all to further goosing banker bonuses and the AUM of the uber-wealthy which is all QE4 will achieve), to extension of the ZIRP language, to MBS Twist, to combined purchase of USTs and Agencies, either with a deadline, or open-ended. That pretty much rounds it up....MORE 
*The complete quote has a very different feel to it:
"History is more or less bunk. It's tradition. We don't want tradition. We want to live in the present, and the only history that is worth a tinker's damn is the history that we make today."
"Doing History", Eugen Weber

Dutifully footnoted, cited and linked, like any pedantic historian.