Rare 1978 Half-Speed Japan Mofi pressing. "Katy Lied" is the fourth studio album by the American rock band Steely Dan, released in 1975. The album showcases a blend of jazz, rock, and pop elements, featuring the band's signature sophisticated musicianship and enigmatic lyrics. Steely Dan, led by Donald Fagen and Walter Becker, employed a variety of session musicians to achieve their distinct sound on this album. Notable tracks include "Black Friday," "Bad Sneakers," "Doctor Wu," and "Chain Lightning," each characterized by intricate arrangements and polished production. The album's lyrical themes often revolve around disillusionment and personal introspection.

One of the significant aspects of "Katy Lied" is its production history. The band faced technical difficulties during the recording process, particularly with the DBX noise reduction system, which led to some dissatisfaction with the final sound quality. Despite these challenges, the album was well-received by critics and fans alike, cementing Steely Dan's reputation for producing high-quality, innovative music. "Katy Lied" has since been considered a classic in the rock and jazz fusion genres, demonstrating the meticulous craftsmanship and artistic vision that define Steely Dan's work.