Clarida, JPOW and Williams … oh my

PATIENCE has become THE Fed’s official refrain since the (stock)markets missteps into years end.

From JPOWs press conference (“autopilot”) TO PATIENCE, a TWEAK of inflation targets (covered by Williams over the weekend of Jan 5th HERE).

Last nights speech by Clarida was simply as dovish as all the rest, introducing the word CROSSWIND, to stand forĀ GLOBAL financial conditions which have “tightened materially” along with Fed taper/tightening, well … is DOVISH. p6 of Clarida’s speech:

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