Friday, November 6, 2015

Nomi Prins was right… the Fed has no idea what it is doing

On Nov. 4, Federal Reserve Chairman Janet Yellen spoke before Congress on financial issues such as the state of the economy, interest rates, and monetary policy.  And during her hearing on the floor of the House, Yellen offered up a counter opinion to what was stated last month during the Fed’s most recent FOMC meeting where the central bank hinted strongly at raising rates as early as December, and instead spoke of the possibility of negative interest rates should the economy move in a worse direction.
Two opposing statements within a few short weeks… it certainly appears that Nomi Prins was correct when she states that the Fed has no idea what it is doing.


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