Quote:
Originally Posted by Raven
that's not CRAZY oBAMA is the greatist
at s u c k i n g as president
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you can only fake it for so long.....
The Fed, with its
seven years of zero rates and $3.7 trillion worth of money printing, has faced criticism for being too market sensitive. Citigroup's Lee called Yellen's speech "a remarkable transfer to markets of the FOMC's authority to set future policy rates."
For investors, the question ahead will be how long the Fed can continue to keep the market afloat. Ultra-accommodative monetary policy is showing its limits in other countries, and Yellen's narrative that the dovish tone is being inspired by global weakness, not in the U.S., is gathering skeptics.
"If anything, I would say the global problems have subsided since December," Euro Pacific's Schiff said.
"The real problem is the U.S. economy. The U.S. economy is weakening,"
Schiff said he thinks the Fed may attempt a rate hike this year, but any efforts at tightening won't last.
"The economy already is in recession," he said. "The question is, when is the Fed going to acknowledge it."
Jeff Cox
Finance Editor
Hybrid Mode
