Directors from 8/12 Federal Reserve districts are now pushing for an increase in the discount rate. That includes the four regions whose presidents are full voting members of the FOMC for 2016 . The market is still only priced for a 50% chance of a rate hike by December, but the clamour from within the Federal Reserve system is now notably louder than at the same stage last year.
Over the past few weeks we have frequently debated the likelihood of 'helicopter money'. However, I have noticed that people tend to use the term to mean many different things. What some people call a helicopter, other people would hardly call a drone. In light of this I think it might be helpful to answer the question: what does helicopter money really mean?