Every: The Fed Put vs. the Fed Putz

rump-Putin meeting?

By Michael Every of Rabobank

With the much-vaunted ‘Fed Put’ under discussion --is it still there, and if not, how can markets do their job without knowing they will get bailed out for egregious errors of judgement?-- the Fed’s March meeting was closely watched: see Phil Marey’s take, ‘Inertia’. As expected, the Fed did nothing: except lower growth and r…