Fed's Hoenig Wants Feds Funds Rate Raised Soon

(If this is not a stock market manipulation by the Federal Reserve, I don't know what is...)

Kansas Fed President Thomas Hoenig, regular dissenting member of the Fed Open Market Committee (FOMC), said he would like to see the Feds fund rate raised "cautiously" to 1% soon.

He said it around 2:14 PM today, and this is what it did to the market. (It is a Dow 3-minute intraday chart.)

Oh BTW, the Treasury Department will be auctioning 30-year bond ($13 billion, 2nd reopening) tomorrow. I'm sure Treasury would like to see a lower rate (=higher price) for their offering. Flight from scary stock market to "safety" of US Treasuries.

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