Yellen Missed her Chance
to be a great FED Chief. The market was ready to embrace interest rate normalization but she did not have the guts and confidence to make the call and step into the top rung of former FED Chiefs, and no, Bernanke is not on that top rung.
And so she can continue to keep money available for creating more supply of everything whether the world needs it or not. Things like commercial real estate, oil, tech toys, you name it, the producers have the mass and access to make more. It’s the consumers lack of buying power that is key.
Today the markets gave their wild reaction, the oil and commodity bear markets rallying into resistance, the dollar bull market dropping into support, and the two transitioning markets, bonds and stocks, flailing around trying to make new highs. Watch the rest of this month for direction.