“Helm, warp one, engage!” 

There aren’t many things you can count on in this crazy world, but one constant is Jon Hilsenrath’s hallmark lightspeed, embargo-assisted copy editing skills and make no mistake, it’s a good thing Hilsy can turn a 539-word FOMC statement into a 593-word article because with all of the confusion going on in the Eccles Building these days, someone has to explain things to the world – and quick.

Below, find the Fed whisperer’s latest, in which he attempts to come across as less befuddled than the central planners he’s writing about when it comes to explaining how Janet Yellen and co. have become the embodiment of the “deer in headlights” meme now that their new reaction function includes an admission of their own reflexivity. Here’s Hilsenrath on what certainly looks like a “less dovish” hold.

Via WSJ