Federal Reserve Chairwoman Yellen spoke again yesterday. You can click on the link for the full article. Meanwhile, here are some of the points she discussed and our comments. Draw your own conclusions.
--the only place inflation is below 1% is in the head of Chairwoman Yellen, a fawning media and a few quite dangerous bureaucrats.
--if you believe inflation is really below the Fed's 2% target, you have not been paying attention.
--hedge terms like "quite plausible" we will see full employment (whatever that is, since many disagree with the definition) and healthier inflation by the end of 2016 are further proof these people don't have a clue.
--her comment about more slack in the labor market than suggested by the unemployment rate begs the question how would she or any other of these financial seers then recognize full employment?
http://www.reuters.com/article/2014/04/16/us-usa-fed-yellen-idUSBREA3F1A420140416
--if you believe inflation is really below the Fed's 2% target, you have not been paying attention.
--hedge terms like "quite plausible" we will see full employment (whatever that is, since many disagree with the definition) and healthier inflation by the end of 2016 are further proof these people don't have a clue.
--her comment about more slack in the labor market than suggested by the unemployment rate begs the question how would she or any other of these financial seers then recognize full employment?
http://www.reuters.com/article/2014/04/16/us-usa-fed-yellen-idUSBREA3F1A420140416
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