Yellen reverse sets market afire, for now

Janet Yellen needed medical attention while giving a speech Thurs. night at U-Mass Amherst.

The Fed chief complained about being dehydrated and appeared to have difficulty finishing her speech, with disturbing pauses and having to re-read passages.

At the end she said “Let’s leave it there” and was assisted off the podium, and was asked “are you alright?”

Yellen attempted in her speech, to reverse her comments last week and to let the markets know the global economy was not in as bad a shape and she let on and that the Fed was still looking to raise rates this year. All total blather, since global growth is slowing to a near standstill and the Fed will not be able to raise rates this year.

However it appears to have worked in the short-term as equity futures are up and Asian and European bourses are all trading higher.

The Vice Chair of the Fed is Stanley Fischer, the former central banker for Israel. Fischer would take the lead should Yellen not be able to continue as Fed chair.

And although the Fed has said Yellen was better after the speech, we will have to wait and see on that.

 

 

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