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Markets Tumble. How Will the Fed React?
The financial markets are not being kind to freshly minted Federal Reserve Chair Janet Yellen. The level of scrutiny she will face when she makes what is likely to be her first public appearance as Chair next week was already high, and is rising by the minute. Global markets are faltering, and US equity markets tumbled Monday, with the weak ISM numbers reported to be the proximate cause of the sell-off: The decline was driven by what can only be described as a jaw-dropping decline in the new order component: Weather is suspected in the decline, and the ISM report offered some anecdotal support in that direction: ... (full story)
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