Fed Following
06/18/2014 | | Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Fed policy, Graphsandlaughs, Janet yellen, MLS, Multiple listing service, Public speaking economist, econ70, economist on TV, economist on radio, eisenberg and economics, funniest economist, funny housing economist, graphsandlaughs and eisenberg, housing sales, mortgage banking, politics and economics, www.econ70.com
At today’s press conference, Fed Chairwoman Yellen did away with forward guidance. Instead, she suggested that the Fed will rely on an array of lagging economic indicators to set policy. She is signaling that the Fed will keep interest rates exceptionally low and allow inflation to systematically exceed 2%; appropriately dovish policies. Separately, her suggestion that the stock market is not elevated will inevitably send it higher.