by Jeffrey P. Snider
Alhambra Partners
In case you need any assistance in trying to figure out when Janet Yellen spoke, or at least when the text of her speech was released from embargo, here is a hint:
[…] It seems her stream of consciousness was somewhat consistent with the old Greenspan idea of “fedspeak.” People and investors appear to have taken from it what they wished, with some commentary talking about its apparent “hawkishness” before being overwhelmed by others claiming its clear “dovishness.” I don’t think either of those terms apply, and certainly not in the fashion with which they are leveled by the continued conventions of mainstream perspective about monetary policy.