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Yellen Hints At Slowing Economy, Dropping Stocks, Accommodative Fed, But Does Not Go “Full Dove”
Wednesday, February 10, 2016 8:43
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zerohedge.com / by Tyler Durden / 02/10/2016 08:35
With world markets begging for moar, Janet Yellen’s prepared Humphrey-Hawkins Testimony was a disappointment:
- *YELLEN: FED EXPECTS ECONOMY TO WARRANT ONLY GRADUAL RATE RISES (everything is fine)
- *YELLEN: JOB, WAGE GAINS SHOULD SUPPORT INCOMES AND SPENDING (everything is awesome)
- *FED REPORT: LEVERAGE RISKS IN FINANCIAL SECTOR `REMAIN LOW’ (so don’t worry about banks)
- *YELLEN: FINANCIAL STRAINS COULD WEIGH ON OUTLOOK IF PERSISTENT (so, there’s chance)
The bottom line this is simply a rerhash of the Jan FOMC Statement and does not offer enouigh dovishness for the market.
As we detailed last night, Citi’s chief FX strategist Englander hinted at what would be Yellen’s “Draghi Moment”:
The dovish surprise is if she explicitly removes March from the hiking calendar (which would be Draghi-esque in front running the FOMC), broadly hints at a delay or expresses concern on downside risk to long term inflation or structural stagnation. The intention would be to show US households, business and investors that the Fed has their back.
The post Yellen Hints At Slowing Economy, Dropping Stocks, Accommodative Fed, But Does Not Go “Full Dove” appeared first on Silver For The People.
Source: http://silveristhenew.com/2016/02/10/yellen-hints-at-slowing-economy-dropping-stocks-accommodative-fed-but-does-not-go-full-dove/
