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Man, is there a lot of chatter about the Fed this afternoon. What does it all mean?
It's hard to sift through what's important in the commentary and what's just fluff because of the heavy doses of Economist Spin and Hyperbole.
It reminds me of the old joke:
A mathematician, an accountant and an economist each apply for the same job.The interviewer calls in the mathematician and asks "What does two plus two equal?" The mathematician replies "Four." The interviewer asks "Four, exactly?" The mathematician looks at the interviewer and says "Yes, four. Exactly."Next, the interviewer calls in the accountant and asks the same question. "What does two plus two equal?" The accountant says "On average, four -- give or take ten percent, but, on average, four."Lastly, the interviewer calls in the economist and asks him. "What does two plus two equal?" Swiftly, the economist bolts up out of his chair, locks the door, closes the window shade. He sits down next to the interviewer and says, "What do you want it to equal?"
A mathematician, an accountant and an economist each apply for the same job.
The interviewer calls in the mathematician and asks "What does two plus two equal?" The mathematician replies "Four." The interviewer asks "Four, exactly?" The mathematician looks at the interviewer and says "Yes, four. Exactly."
Next, the interviewer calls in the accountant and asks the same question. "What does two plus two equal?" The accountant says "On average, four -- give or take ten percent, but, on average, four."
Lastly, the interviewer calls in the economist and asks him. "What does two plus two equal?" Swiftly, the economist bolts up out of his chair, locks the door, closes the window shade. He sits down next to the interviewer and says, "What do you want it to equal?"
It's funny 'cause it's true.
I'll talk more about the Fed tomorrow. For now, though, hop on over to the Holden Lewis' always-excellent take on Winners & Losers in the wake of the Fed's announcement.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
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