I will get some video up for you later. I’m on the road now, blogging from my iPad.
I am watching this testimony and simply dumbfounded by Yellen’s responses.
When asked about the global crisis and plunge in markets and what it would take for the Fed to lower rates again, Yellen was dismissive, suggesting that labor markets were strong and how she did not foresee the need to lower rates again, when in fact she wants to ‘normalize’ them.
My favorite part of this drek is her repetitive use of the word ‘transitory’, when describing the lack of inflation in the economy. In other words, the rout in commodities is temporary. She sees them down 70% and dismisses it as something of a short term thing.
Someone tell the boys up in the Bakken that their pink slips are transitory.
Stocks are fading; bonds are rallying.
Board the ark.
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Transitory = changes greater than or equal to 50% now.
I am growing more and more convinced the Fed members don’t understand how interconnected the global economy has become. How do you lead / participate in collaborative rate cuts / currency devaluations then believe you are isolated from a slowdown?
The baffling aspect of all is that the market is holding up. It wants to go higher, but it can’t because of this delusional and senile person. I’m extremely weary that it will continue to stay positive, but she just needs to walk away.
http://www.washingtontimes.com/news/2016/jan/27/judge-says-giant-noahs-ark-project-in-kentucky-is-/
She is a DISASTER. Grandma Yellen…an era gone by.
Looks Like Yellen is not getting Love on the Hill Either. No Softball Questions.
Hatin’ on unelected officials
After Trump/Sanders Win..Everyone on the Hill has to look like they are Mad as Hell and Not going to Take it Anymore..Funny, Oil is getting no Love either, even with great EIA data.
The Fed is an organization of banks– banks who want to charge higher interest rates on your mortgage, credit cards, and business and personal loans. These banks have inside info and so they may have gone short toward the end of last year and held.
Just because what they are doing causes disasters for people who are not bank CEOs, does not mean they are going to stop doing it.
Yelled could see those fucking congressional butt wipes had their TDAMERITRADE accounts up on their phones and ready to short the market to reach the level based on her answer.
She sent them packing. Hold your ground, Grandma!!!!!
Your next post will say stocks are rallying and things are about to get real colorful around here. Then the post after that will be get on the Ark
DOW red at this point, Us Bears don’t see that rally post today coming.
If trump gets elected maybe he will appoint his wife as Fed head .
At the least it would be a lot easier to watch .
Deflation…TRANSITORY. Market calls bullshit. http://charts.stocktwits.com/production/original_49461690.?1455056278
the nyc-dc corridor doesn’t care one whit about bakken pink slips
the old gal said fk-u and don’t call us we’ll call you so come on let’s go down 50 handles and 400+. why not. it is uh…wednesday.
Still think this market is going lower but in the short term it’s dying for a relief rally. It will start at the precise second this testimony is over.