Just when you thought the rally monkey was cock out, dancing on the graves of short sellers, Grandma Yellen comes out from the woodwork to talk shit.
Federal Reserve Chair Janet Yellen said Wednesday that December would be a “live possibility” for a rate hike if the upcoming data are supportive.
“Now no decision has been made on that and, what it will depend on, is the [Federal Open Market Committee’s] assessment at the time. That assessment will be informed by all of the data that we collect between now and then,” she said, testifying before the House Financial Services Committee.
Yellen also said she and the committee expect the economy to grow “at a pace that’s sufficient to generate further improvement in the labor market, and to return inflation to our 2 percent target.”
“If the incoming information supports that expectation, then or statement indicates that December would be a live possibility,” she said.
A rate hike isn’t the worst thing in the world, especially not for banks. With a wider yield curve, banks will make even more money. Those bank exec motherfuckers will be popping champagne corks into the faces of people who got denied mortgage loans in no time at all.If you enjoy the content at iBankCoin, please follow us on Twitter