Posted on 09/16/2013 7:14:30 AM PDT by whitedog57
Larry Summers pulled out of his candidacy for Federal Reserve Chairman, leaving Janet Yellen (a dovish UC Berkeley economics professor) as the leading candidate. A Yellen appointment as Fed Chair means MORE printing and Quantitative Easing.
Particularly since the economic news points to a moribund economic recovery. New York’s Empire Manufacturing Index printed at 6.29, less than the expectation of 9.10. Industrial production rose 0.4%, also less than the expectation of 0.5%. Capacity utilization rose to 77.8%, but still can’t break the magical 80% barrier.
beco091613A
The reaction to Summers’ pull out and the likely about of a Berkeley dove as Fed Chair? Sovereign yield are down across the board (except for Greece).
wbm091713
At 10am, the Treasury 10 year yield is down 10 basis points.
ust10091713
And world equity markets rose almost 1% of the “Yellen Rally.”
wem091713
Bear in mind that Yellen may NOT be the Fed Chair. Former Fed Vice Chair Donald Kohn has also been mentioned.
But Yellen does seem to be the leading candidate.
Sarpeidon_prosecutor
Sorry. That was the Prosecutor from the Star Trek TV episode, “All Our Yesterdays.” Here is Yellen’s photo.
OB-YN272_yellen_G_20130813101819
More likely that an incompetent leader of Harvard University should not be running the Fed.
Certainly The One will speak of this economic news in his speech today taking credit for Summer of Recovery V?
Imagine the rally we could get if 0bama RESIGNED or was IMPEACHED and REMOVED!
oMg
Berkeley
Really?
the commie university
Wall Street inflates on bad economic news because they know they will be more loose money as the Fed keeps pulling on that lever to try to improve the economy. The only place the money has to go is into stocks, because nobody is investing in plants or expansion anymore.
Bad News = Higher Stock Prices.
Until the wheels come off, of course. Best make some money quick, so you can insulate yourself from the coming collapse.
It almost seems as though that should have happened by now. Sure it will eventually, just not sure why it hasn’t yet. This deal has been fake for some time now.
Crap, now we get the communist economist Yellen.....
Weaker “than expected.”
The “expectations” must be coming from the tooth fairy.
Yep,the gravy train continues.
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