Fed's Fischer Responds To Paul Tudor Jones

Posted April 21, 2017 11:45 am by Comments

By Tyler Durden

“We’re not terrified,” proclaimed a cognitively dissonant Stanley Fischer, responding to concerns raised by legendary trader Paul Tudor Jones over the stock market’s extreme valuation – the value of the S&P relative to the size of the economy – should be “terrifying” to a central banker, Jones said earlier this month at a closed-door Goldman Sachs Asset Management conference, according to people who heard him.

“I’m not terrific at forecasting stock market directions” – which begs the question, what are you terrific at forecasting?

On The Dollar, Fischer dismissed Trump’s comments but seemed to let slip some awkward reality…
Fed Vice Chairman Stanley Fischer, when asked about President Trump’s comment on the USD, says “we do not take a particular statement, by even a president, into account in making our decisions on the interest rate.”
“The markets know how to price the dollar fairly well, and the dollar has actually been depreciating lately, and that’s of some help, but it wasn’t part of our plan,” Fischer said Friday in interview on CNBC

He then added that “should the dollar get too strong, we’ll respond,” seemingly indicating a 3rd leg to the mandate stool that Congress is unaware of.


Source: ZeroHedge

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