Jan

17

The much-discussed Yellen speech is a standard-issue overview of Fed dogma … everything from the Phillips Curve to the Taylor Rule … soft landings and glide paths … even pretending the forward energy curve is a market forecast! It's actually a nice overview of "issues" related to what's wrong with the various measures of the economy, and it’s worth reading for those insights, if one is not already constantly immersed therein. 

Read cynically, it is a checklist of readymade excuses for potential errors the Fed might make.


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