Top 10 Things You May Not Have Known About the FOMC

Tuesday, December 11, 2007 | 05:03 PM

With the Fed decision out, you already know the most salient information about what the FOMC did today. What follows are the top 10 things about the FOMC you probably don't know about:

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Top 10 Things You May Not Have Known About the FOMC

10.  The Fed exists to insure maximum employment, price stability and moderate long term rates. Their purpose is not to backstop speculators 

9.  4.25% Funds rate very accommodative and historically low.

8.  Between votes, Fed Governors make fun of BLS economists.

7. Overheard at FOMC meetings: “What would Greenspan do? Let’s do the opposite!”

6. Jealous that Jean Claude Trichet gets to hang out with Gisele Bundchen

5. Doesn’t give a rat’s ass what Cramer thinks.

4. "Then it's resolved, we print more money and we make more speeches . . ."

3. There is no Santa Clause -- just some guy with a beard named Ben.

2.  Has been long Gold and short the Dollar since 2003.

and the #1 thing you may not have known about the FOMC:

1.  “Hey, Wall Street: We’re not your Bitch anymore.”

 

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Feel free to come up with your own additions in comments . . .

Tuesday, December 11, 2007 | 05:03 PM | Permalink | Comments (43) | TrackBack (0)
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Comments

* That notepad Greenspan used to pen his memoirs on? They switched it to water soluble paper three times during the writing of the book.

* They play monopoly with real $, just because they can.

* Have a side bet going on if they can cause the aneurism in Cramer's head to pop.

* Get a HUGE kick out of tipping with $2 bills and watching the reaction of the "idiots who don't know basic currency".

* Apparently don't listen to Larry Kudlow (Sorry dude!)

* End each meeting by running into the special Fed Chucky Cheese and rolling around in the cash cage.


Posted by: Mike G. | Dec 11, 2007 5:22:50 PM

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