"Trap The RED News"
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Waiting for Yellen
The Fed's Yellen testifies before the Joint Economic Committee of Congress today. Her comments today were not expected to deviate much in substance from the FOMC's statement last month. While last week's rise in non-farm payrolls was impressive, we argue that the Fed has announced a new reaction function and the employment data is not what it used to be. By this we mean that as Yellen steered the FOMC away from the 6.5% unemployment threshold, she posited a broader understanding of the labor market. Specifically, in the April report, the fall in the participation rate (which drove the unemployment rate lower), the ... (full story)
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albchr
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Spreadbetter
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"The meek shall inherit the earth.." Yeah right, good luck with that shit..
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albchr
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