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.