Kass Gets Real on FOMC Statement: Says No Boost Investment/Hiring Will Result
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Noted trader Doug Kass is out with some comments following the FOMC announcement today. For the most part, Kass believes too much is being made over the Fed's decision to keep rates low and continue open market operations through Treasury purchases.
From his Twitter account (@DougKass):
"far too much is being made out of the fed announcement. imho.
"I disagree in the market's universally positive response to the FED. Lower interest rates are not what ails the global economy #stockaction
"1 What bearing will the fed's move have on iPad sales or auto sales? None 2. What bearing will themove have on fix invt or hirings? None"
Notably, Kass also said he wouldn't be surprised to see a pullback in the S&P starting within the next few sessions as fiscal cliff negotiations by lawmakers continue to pan out.
U.S. markets popped higher following the announcement, hoping that Helicopter Ben's plan will be able to spur further growth. For more analysis on the FOMC statement for December, click here.
Of course, don't forget to follow Streetinsider.com on Twtiiter.
From his Twitter account (@DougKass):
"far too much is being made out of the fed announcement. imho.
"I disagree in the market's universally positive response to the FED. Lower interest rates are not what ails the global economy #stockaction
"1 What bearing will the fed's move have on iPad sales or auto sales? None 2. What bearing will themove have on fix invt or hirings? None"
Notably, Kass also said he wouldn't be surprised to see a pullback in the S&P starting within the next few sessions as fiscal cliff negotiations by lawmakers continue to pan out.
U.S. markets popped higher following the announcement, hoping that Helicopter Ben's plan will be able to spur further growth. For more analysis on the FOMC statement for December, click here.
Of course, don't forget to follow Streetinsider.com on Twtiiter.
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