"Who are you going to believe?"

Compare and contrast –

Last night’s Fed Minutes from the Jan 27-28 meeting:

‘Many participants indicated that their assessment of the balance of risks associated with the timing of the beginning of policy normalization had inclined them toward keeping the federal funds rate at its effective lower bound for a longer time.’

Fed’s Williams interview from February 11th:

‘Here is my .

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"The Day Today" - 27 Jan 2014

* Greek fallout begins: ECB’s Coeure says “Mr. Tsipras must pay…. if he doesn’t pay, it’s a default and it’s a violation of European rules”
* Greece needs EUR 28bn this year,

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