Deciphering the central bank rhetoric is a little like doing the cryptic crossword in your local Sunday newspaper. The paper says one thing, but it’s not actually the point they are trying to make! Janet Yellen’s speech on ‘outlook, uncertainty and monetary policy’ in New York overnight did exactly that. You can read the full speech by clicking the link to the Federal Reserve website in the text above, but here are a few key extracts that the market has read and reacted off of: “I consider it appropriate for the committee to proceed cautiously in adjusting policy.” “Reflecting global economic and financial ... (full story)