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Yellen "Gobbledygook" preview: Not One Analyst Expects Anything Remotely Hawkish
Ahead of Yellen's Jackson Hole speech tomorrow, the sell-side, hypnotized by 6 years of Fed bubble-inflating generosity, refuses to even consider the possibility that the Fed could possibly pull the punch bowl away, and the absolutely unanimous consensus is that despite yesterday's minutes (or perhaps due to, because as the Chinese Department of Truth has taught us, one must first and foremost baffle with BS), Yellen will go uber-dove. So without further ado, here is what the Penguins expect Yellen's "gobbledygook" will reveal tomorrow, and as a reminder, yesterday Citi warned that there is ... (full story)
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