Yellen vs. Mr. Magoo

by David Kranzler
Investment Research Dynamics

I’m not sure which is more off the rails: the stock market bubble that is being inflated or the Chairman of the of the organization that is doing the inflating:

[…] Hmmm…”Well, let me start — let me start with the question of the Fed’s credibility. And you used the word “promises” in connection with that. And as I tried to emphasize in my opening statement, the paths that the participants project for the federal funds rate and how it will evolve are not a pre-set plan or commitment or promise of the committee. Indeed, they are not even — the median should not be interpreted as a committee-endorsed forecast”

Continue Reading at…