Yellen Hints At Slowing Economy, Dropping Stocks But Does Not Go Full Dove
With world markets begging for moar, Janet Yellen's prepared Humphrey-Hawkisn Testimony was a disappointment:
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US Federal Reserve
This Is What Yellen Could Say Tomorrow To Unleash A Market Surge
While the markets have been generally lacklustre in the past two days, much of the enthusiasm associated with the last hour spike on both Monday and Tuesday had to do with optimism involving a significant relent by Janet Yellen during her semi-annual 2-day testimony in Congress starting tomorrow at 8:30 am.
The Economy In Pictures: We've Seen This All Before
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Fed Lacks Legal Authority, Computer Systems, Physical Cash To Implement NIRP According To The Fed
Over the weekend, we presented a comprehensive step by step analysis laying out both the mechanics (and implications) of the Fed unleashing NIRP in the US when the time comes: a time which as JPM further defined, would be characterized by "recession-like conditions." In other words, right about now if Yellen so chose.
JPMorgan Unveils The "Bogey" For NIRP In The US
Ever since early 2015, we have repeated that with the world caught in a negative rate "race to the bottom", which even S&P now admits, it is inevitable that the US will join the rest of the DM central banks, especially after the flawed and much delayed attempt to hike rates into what is at least a quasi recession.