The Fed's "Expedited, Closed" Meeting Is Pure Kabuki Theatre

``It is highly likely that the Fed will raise the discount rate at Monday's meeting.  It will have absolutely no affect on the Fed's overall monetary policy and no affect on the economy. However, it will definitely reinforce the Fed's poker face with regard to the outcome of its December FOMC monetary policy zoo-fest. In fact, the Fed has in the past raised the discount rate to signal a tighter stance in monetary policy only to whiff on raising Fed Funds rates...''