'Rip off the band-aid': Wells Fargo, $WFC, makes the case for a 150 basis point hike at Fed meeting, per CNBC.
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This is ridiculous.
The FED doesn't work that way.
They work very slowly.
.75 hike tomorrow.
.50 or 1.00 not likely.
1.50 hike ridiculous to waste anyone's time and talk unprofessional like that.
Misleading headline. Here is what he said The Fed knows what the destination is. So it’s got the funds rate now, the upper bound, is 2.5%. Very likely it gets to 4%-plus this year Why not just rip off the Band-Aid. Let’s get there in one day. But of course, the Fed won’t do that.
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