Fed's Lockhart: November is live

• If the upcoming data confirms his outlook it would become a question of when, not if the Fed would raise rates
• Is comfortable with a possible rate hike at one of the coming meetings, depending on the data
• Shares the concerns of other Fed members about waiting too long to hike
• Jobs market is close to meeting the Fed's goal

That last comment is well at odds with what Kashkari said yesterday. He said the Fed knows less than they think they do about the labour market and employment. There's never been a real set metric for full employment but most see it with an unemployment rate around 4.5%

 Nobody believes in the Fed, so the data means nothing.

Yawn.....