Predicting the Markets by Edward Yardeni

Author:Edward Yardeni
Language: eng
Format: epub
Publisher: YRI Press

Unlike Zweig’s objective approach, most Fed watchers spend too much time critiquing the Fed. It’s easy to do. Anyone can play the game. You don’t need a PhD. Most Fed watchers are macroeconomists who would jump at the opportunity to be Fed chair or a Fed governor. Many would even settle for the presidency of one of the regional Fed banks. So naturally, they feel compelled to pontificate on what the Fed is doing wrong and what they would do differently. It’s a fun and interesting exercise, but that’s not what investors are paying Fed watchers to do. Investors want to know what the Fed is going to do next. That requires a good read on the Fed chair and other FOMC participants as well as a good read on the economy.

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