Why 2011 Is Still Going To Be A Dovish Year At The Fed

If you were looking forward to 2011 being a more hawkish year at the Fed, well don’t get too excited.

According to a report from Societe Generale, the balance of power in terms of voting still stands with the doves. Even though Richmond Federal Reserve President Jeffrey Lacker has been making hawkish statements about future QE, he doesn’t get a vote in 2011. 

That means more quantitative easing and continued low interest rates for the U.S. economy, so long as sentiment remains consistent.

From Societe Generale:

Chart

Photo: Societe Generale

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