by Mike ‘Mish’ Shedlock
Today has certainly been entertaining.
First, Janet Yellen came out with a chart showing there was a 70% chance that rates would be between 0% and 4.5% in 2018. Is the 90% confidence level -1.0 to 6?
This was followed up by a blast from St. Louis Fed president and FOMC voting member James Bullard that the Fed’s Forecast of Gradual Rate Hikes is Damaging its Credibility and the Economy.