Peter Grandich gives us a play-by-play of Janet Yellen’s first FOMC Meet-up. He believes she’s sincere. She was very blunt and the markets didn’t like it one bit. She’ll have to watch her tongue in the future. When it comes to the economy, Wall Street and the future of the Western World, honesty is certainly not the best policy. And you can only taper so far, until you run into the brick wall of the deficit.