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Treasury Secretary Yellen says rates “may have to rise somewhat ….”
Markets reacted to the non-sensical statement, so am posting it. What in h*** Yellen is trying to achieve with a statement like that escapes me, unless Powell asked her to sow the seeds of rising rates in investors’ minds prior to the Fed moving.
Yellen’s comment must have served to strengthen the Dollar on the currency exchanges, Most everything I own tied to non-dollar assets took a hit. Just by way of example: Miners lost 1.15% across the board. OPGSX, PRELX and RPGAX among my worst performers.
Yellen has also received some derision among the financial pundits. Quoth one: “Talk is cheap.”
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Yellen has also received some derision among the financial pundits. Quoth one: “Talk is cheap.”