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Here’s Why The NY Fed’s Head Trader Is Now Doing A Dog and Pony Show That You Need To Know About

Jonathan Spicer (@jonathanspicer on Twitter) is one of the best Fed reporters in the mainstream media that you have never heard of. Spicer wrote a piece in Reuters today describing a dog and pony show that the NY Fed has taken on the road to allay fears among market insiders that the Fed won’t be able to control short term rates when the time comes to raise them.

This is a subject that I have been ranting about for months. The mainstream media has avoided it assiduously in spite of me constantly haranguing various Fed reporters about it. Now that Spicer has broken the story, the floodgates will open. You can be sure that the Wall Street Journal’s Jon Hilsenrat will be on it like a fly on horseshit to get all the credit for it next week. He’ll report the Fed authorized, whitewashed, rubber stamped, and promoted version of the story.

So kudos to Spicer for getting on this. It’s a huge story. As usual, I raised awareness of what is to become a monster issue months before anyone in the Wall Street captured media either saw it or had the balls to write about it. And I’ll be here to correct the inevitable misimpressions that the Fed captured mainstream media promotes from here on.

Here’s a clip from my February 25 Radio Free Wall Street video. It was by far not the first time I talked about it, and now that the mainstream media has picked up the ball and started to run, I’ll be around to correct their misinformation as they spew it.


Spicer’s post – Fed market gurus prep rate hike amid last-minute anxieties.

Here’s a post I wrote on March 17.

Why Are We Speculating About When The Fed Will Raise Rates When The Real Issue Is How


Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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