Peter Tchir, head of global........>

US TSYS/RESEARCH: Peter Tchir, head of global macro strategy at Brean Capital,

quipped about the feverish anticipation of Wed FOMC/Fed Chr Yellen events,

"Wednesday, Wednesday, Wednesday! Come see dot plot lower again! See the mighty

redline highlight changes since the last FOMC Event! Watch dovish Janet smash

the hawks while rolling over the press! Only at the FOMC! Only in D.C.!"

- He quipped that he has "read in multiple places that this is the most

important Fed meeting of the year, or decade, or something like that. I just

cannot get that excited about the meeting." 

- He adds that "personally, I think they should put rate hikes on the back

burner, and focus on balance sheet management only" but "I doubt they will do

that. While a part of me would like to see, at least for the volatility it would

create, a rate hike AND significant balance sheet reductions - the Fed is way

too dovish and afraid of roiling the markets, so we won't get that. What we will

likely get" is "pretty static growth and inflation expectations (they don't

lower them much even when they have been too high relative to reality, so little

reason to change)." (More)