Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Yellen Says Economy Performing ‘Far Short’ Of Potential

Wednesday, November 13, 2013 - 7:27 PM
Janet Yellen, nominated to be the next chairman of the Federal Reserve, said the economy and labor market are performing “far short of their potential” and must improve before the Fed can begin reducing monetary stimulus.

“Her approach is let’s do more QE now to get the job done faster,” said Laura Rosner, a U.S. economist at BNP Paribas SA in New York, and a former researcher at the New York Fed, referring to the quantitative easing bond purchase program. “Yellen is repeating her commitment to getting the job done.”

Yellen Says Economy Performing ‘Far Short’ of Potential - Bloomberg

Fed Chairman nominee Yellen spoke and the equity markets loved her message of even more easy money. This will be a case of Bernanke on steroids when she takes over the reins at the Fed.
4
ShorebreakShorebreak2,670 posts since
Apr 6, 2010
Rep Points: 14,474
1. Wednesday, November 13, 2013 - 8:48 PM
The market future went up after Yellen's statement/testimony...

Stock-index futures gain on Yellen; Cisco drops - After Hours - MarketWatch
4
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
2. Wednesday, November 13, 2013 - 11:56 PM
OK Shorebreak, lemme get this straight: (1) first we have the architect of
QE in your earlier post saying QE isn't really working, and (2) we have the
new FOMC chair saying let’s do more QE now to get the job done faster.

What could possibly go wrong with this!!
3
cumuluscumulus357 posts since
Jan 16, 2010
Rep Points: 1,657
3. Thursday, November 14, 2013 - 7:08 AM
#2:

"What could possibly go wrong with this!!"

As long as the stock market is rallying, everybody (who has anything say about the matter) will be happy.  :D

Just kidding.
4
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
Reply