Yellen Is Flat-Out Wrong: Financial Bubbles Are Caused By The Federal Reserve Not The Market
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To maintain the idea of market-based mess is to be intentionally obtuse More of the same from Janet ...
To maintain the idea of market-based mess is to be intentionally obtuse More of the same from Janet
Yellen in her latest speech, but her focus on “resilience” caught my attention as it relates to very recent
developments. The taper threat experience last year may have been a warning, but it doesn’t seem like
it resonated with her or policymakers. The major bond selloff, which led to global ripples of crisis in
credit, funding and currencies, was the opposite of flexibility. Perhaps a better definition of the word
would be a place to start.
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