Are the Markets Following the Fed or Vice Versa?

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Sept. 18 (Bloomberg) -- UBS's Maury Harris and Credit Suisse's Ira Jersey discuss the reaction of financial markets to the Fed's decision not to taper QE. They speak with Tom Keene and Sara Eisen on Bloomberg Television's "Money Moves." (Source: Bloomberg)

We see the markets react to this.

Look at gold.

There is the moonshot that we have seen off the announcement.

Dr.

harris, these markets seem to be correlated.

Are the markets following the fed?

Are the -- is the fed following the markets?

The markets are trying to get ahead of the fed on this.

You could make an argument that they will not taper until you get a new chairman.

How do they get to 218 without talking about janet yellin?

She will be more dovish than more candidates, certainly.

These are all of the ducks lined up.

This is what the fed puts out.

Look at the distribution of opinions.

Is this a more fractious distribution and other central banks?

Pre-k's i think -- i think it is a more fractious distribution.

You have two regional reserve banks talks going on the -- hawks going on the fomc next year.

You will have some new governors on next year.

Cincinnati reds-pittsburgh pirates.

Our heads would explode.

This text has been automatically generated. It may not be 100% accurate.

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