Now even Yellin is saying the obama economy sucks!
She’s admitting the economy is so weak it can’t even stand a trivial 25 basis point increase in rates.
I wish that was true, that would be refreshng honesty. Yellen blamed the GLOBAL economy, not the Obama economy as the cause of weakness.
“Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term,” the Fed said in its policy statement following the end of a two-day meeting. It added the risks to the U.S. economy remained nearly balanced but that it was “monitoring developments abroad.”