05 May 2021
6 min read
AM Notes: Yellen Moonwalks
Yellen's comments yesterday got a lot of attention, but sadly she didn't moooooonwalk.
She 'walked her comments back'.
Either way, the message really didn't deserve the amount of attention it got...
It was purely who the messenger was/is, rather than the message itself...
“It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat, even though the additional spending is relatively small relative to the size of the economy,”
The same could have been said by any Fed official in recent weeks (similar comments have been made) & Goldman noted
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