During Yellen's Post Statement Conference
The Fed increasingly has revealed itself to be clueless. They portray themselves as scientists, and economics as a hard science. But the more they talk, the more we see any old Gold analyst who is wrong just punting his prediction down the road. But the analyst runs out ofroad at year end. The Fed has no "year end prediction" they can be called on. What will happen if Gold finishes theday up and stocks down? if it does it will be the day that unintended consequences eclipsed wishful thinking in FedLand
"When will Government learn that their intervention only helps in the direction of the trend? That Government by nature is designed to be trend following to facilitate market forces and not to hinder them.
When will they figure out that the market is bigger than them and will have its way now or later?"
"The Fed is out to lunch. Does the Fed look at what's going on in the economy? It is unbelievable
From Citi on the BOJ, and now apropriate for the Fed
Some highlights from Yellen's Speech
- Yellen: "we don't want the economy to overheat"- thank G-d you didn't ease then
- Fed Now Sees Only Three Rate Hikes Thru End Of 2017; Cuts Long-Run US GDP Potential- moves goal posts after 1 month
- Fed now expects 2016 GDP to rise 1.7-1.9% vs 1.9-2.0% in June
- Janet Explains Why Donald Trump Is Wrong- apolitically discussing politics
- Yellen on Trump charge: "Partisan politics plays no role in our decisions"- not economy, not politics, then what does?
- Yellen "Our decision not to raise rates does not reflect our lack of confidence in the economy"- or our next president
- "In the event of a future large adverse shock"... the Fed may cut by 25 bps- Nirp on table now
- Yellen now explains why the goalposts were moved again- like any analyst that is wrong, punt
- YELLEN: SEEING DEFINITE EVIDENCE ECON EXPANDING MORE STRONGLY.- definitely,seriously
- YELLEN: EMPLOYMENT TO POPULATION RATIO CONTINUES TO RISE- Soylent green industry in full swing
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