Summary: Usually we can only guess at the motives of our senior officials. But on rare occasions they give us clues to their real priorities and objectives. The Fed is especially opaque, so we speculate about their odd rate increases during a slow and slowing economy. Yesterday Janet Yellen explained why. The answer is shocking … Continue reading Surprising revelation: Janet Yellen reveals why the Fed is raising rates!
Summary: Trump's unexpected election forced changes in the forecasts and plans of the Fed's leaders. Today's decision to raise rates is their first result. Janet Yellen was quite candid about this. The implications of the rate rise are complex. The effects might prove calamitous. Janet Yellen's remarks at the press conference She clearly pointed to Trump's … Continue reading Trump forced the Fed to raise rates. The results could be ugly.