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Janet Yellen’s Latest Economic Outlook

Don't look for anything new here: lots of optimism, lots of Okun's law references, and a whole lot of dovishness and "this time we know what we are doing." Some excerpts: On unsustainable budgets I’m no fan of persistently large budget deficits. I’ve warned against them throughout my career. But the real danger I see from them is not inflation

Some More Perspectives On This Weekend’s Secretive Banker Meeting In Sydney

One of the less-reported events this weekend was the not so secret central banker meeting that is taking place in Sidney Australia. Now that factual details are finally emerging it is appropriate to collect some information tidbits about this shindig which has some claiming is reminiscent of a modern day version of the Jekyll Island meeting.

Janet Yellen Discusses The China Paradox

Janet Yellen, who in mid-November completed a "fact-finding" trip to Hong King and China, provides some insightful observations into the closely tied monetary fates of China, Hong Kong and the US, as well as China's Catch 22 paradox of overcapacity. As Yellen points out, US monetary policy is a critical factor for both Hong Kong and the mainland "both Hong Kong and the mainland are currently pegging to the dollar, they are both to some extent stuck with the policy the Federal Reserve has chosen to promote recovery." In essence, and in confirmation with Zero Hedge's "vassal theory" of the Sino-US relationship, China has a "considerable interest" in the Fed's exit strategy. Yellen demonstrates that while China is forced to look to growing its own internal economy now that the export-led, current account surplus model is over, the transition will require yet more stimulus, thereby further inflaming the asset bubble, spurred by the massive overcapacity already in place in the country, and further pushing the country into a monetary-fiscal zone of disequilibrium

Janet Yellen Discusses The China Paradox

Janet Yellen, who in mid-November completed a "fact-finding" trip to Hong King and China, provides some insightful observations into the closely tied monetary fates of China, Hong Kong and the US, as well as China's Catch 22 paradox of overcapacity. As Yellen points out, US monetary policy is a critical factor for both Hong Kong and the mainland "both Hong Kong and the mainland are currently pegging to the dollar, they are both to some extent stuck with the policy the Federal Reserve has chosen to promote recovery." In essence, and in confirmation with Zero Hedge's "vassal theory" of the Sino-US relationship, China has a "considerable interest" in the Fed's exit strategy.

Federal Reserve Defense Pamphlet: Janet Yellen Edition

The latest spirited defense of the Federal Reserve system, and, implicitly, its totally uselessness, comes out of Fed apologist # xxx, FRBSF president Janet Yellen, who has jumped on the "St. Ben at the Top of the Polytheistic Parthenon" bandwagon.

Federal Reserve Defense Pamphlet: Janet Yellen Edition

The latest spirited defense of the Federal Reserve system, and, implicitly, its totally uselessness, comes out of Fed apologist # xxx, FRBSF president Janet Yellen, who has jumped on the "St. Ben at the Top of the Polytheistic Parthenon" bandwagon. Yet Ms