Kathleen Hayes from Bloomberg called out Yellen for the state of the economy being in the tank — juxtaposed against nonsensical Fed Reserve tightening. Clearly, she hasn’t a legitimate reason to hike rates, other than to draw down the economy and cause a crisis.
Yellen said ‘policy remains accommodative’ yet she’s fucking hiking. That’s like me punching you in the face, whilst saying ‘I’m here to help.’
When Hayes asked if the Fed would continue to tighten should the economy continued to wallow in the doldrums, Yellen gave herself some wiggle room, saying ‘policy wasn’t set in stone.’
Well, look, our policy is not set in stone. It is data- dependent and we’re — we’re not locked into any particular policy path. Our — you know, as you said, the data have not notably strengthened. I — there’s noise always in the data from quarter to quarter. But we haven’t changed our view of the outlook. We think we’re on the same path, not — we haven’t boosted the outlook, projected faster growth. We think we’re moving along the same course we’ve been on, but it is one that involves gradual tightening in the labor market.
I would describe some measures of wage growth as having moved up some. Some measures haven’t moved up, but there’s is also suggestive of a strengthening labor market. And we expect policy to remain accommodative now for some time. So we’re talking about a gradual path of removing policy accommodation as the economy makes progress moving toward neutral. But we’re continuing to provide accommodation to the economy that’s allowing it to grow at an above-trend pace that’s consistent with further improvement in the labor market.
ONE DOES NOT HIKE INTEREST RATES WHEN THE ECONOMY IS GROWING UNDER 1%.
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One does not simply walk into Mordor
She obviously wants the Trump administration to fail. How do you go from a complete reluctance to hike for all 8 years of a Dem regime to falling all over yourself to hike when the data don’t warrant it, especially after saying late in Obama’s regime that she planned to support a “high pressure economy,” even at the risk of high inflation, paving the way to keep things accommodative when Hillary was elected? It’s plain as day. The only thing that isn’t clear is whether she’d be this aggressive with any Republican or whether Trump is getting extra “special” treatment for having criticized the Fed.
They’re not falling all over themselves. This is calculated. Meaning measured. Trump will be sabotaged. But they’re not about to make it blatant, and aggressive. They didn’t hike in Dec/Jan. Stocks are under control, by whoever, and only increasing the value bubble as they move them higher.
As much as the pinko apparatchiks at the FED want to pin the coming collapse on Trump, “they” are aware that way too many people already know that the Fed is a den of kabbalistic vipers driven by politics. It wont fly. Not with Trump on his twatter account shooting his mouth off.
Modest hike has bonds higher …and so US debt service helped by show of willingness to be vigilant on inflation …and stocks OK with it. What’s not to like.
Pinnocio from shrek?
https://youtu.be/90MxlQTJGug
“Oh”
“Be so scared”
“Of a .25 % increase”
“Oh”
“Scary”
The only goal of the hike path is to keep the price of gold in check. Today was a Fail for them.
The fed did what the market told them to do (3m t-bill), Kashkari is a posturing political monkey that is destined for the wrought iron gate treatment, and the 20 yr chart on the S&P500 is all you need to see for an insight into just how insane this market has become.
Agreed, we need to hike and fast, this is ’06 all over again
Granny is the living representation of Socialist shitholes that ban tobacco sales without “warnings”. Truly castrated like Europe and Australia and Canada. Think about that. A walking stroke is the persona that runs the worlds money. Why?
“a walking stroke…” lofl. That is so true.
Even the demented one known as Krugman said not to raise rates. .
I wonder who gave her the pearl necklace.
it’s fake
You sure? I heard she spent the evening with bennyshill.