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:
Photo: Societe Generale
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