Yellen Pushes Stocks Higher

by Dan Norcini
Trader Dan

This is the real goal after all is said and done – to produce a stock market moving higher in order to fuel the so-called “wealth effect” and get that unruly customer to start spending again.

Fed Governor Kaplan complained in remarks today that low gasoline prices had not seemed to be helping consumers more. Gee – that is not hard to understand when wages are going nowhere and the employment picture in the real world, not the make-believe one that the central planners choose to believe, remains rather lackluster.

So what else can be done to get the consumer to spend, spend, spend? Why, keep stock prices moving onward and upward awaiting the wealth effect to kick in thanks to ultra low interest rates which are destroying the retirement years of senior citizens and those on fixed incomes.

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