Janet Yellen thought she’d sound tough today at the Jackson Hole. She prepared a speech designed to scare Wall Street into believing she was interested in hiking rates.
The Federal Open Market Committee “continues to anticipate that gradual increases in the federal funds rate will be appropriate over time to achieve and sustain employment and inflation near our statutory objectives,” Yellen said in prepared remarks.
More pointedly, she added, “Indeed, in light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months.”
The result was not as she intended. Stocks took off like a fucking bottled rocket and commodities–thru the roof. A hedonistic party broke out, with lit candelabras in the commodity pits–sending gold and oil higher.
Also, the dollar got its stuffing punched out and gobbled up by hungry Devils.
Look at my charts.
Inside the cavernous offices of Dr. B. Bernanke, at Citadel, he was overheard saying ‘bitch is soft, that’s why this shit happens to her all the time’, just before taking a puff on his marijuana filled blunt.
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–Inside the cavernous offices of Dr. B. Bernanke, at Citadel, he was overheard saying ‘bitch is soft, that’s why this shit happens to her all the time’, just before taking a puff on his marijuana filled blunt.–
lol
She says she wants other tools…No Jan, all you need is your punch bowl