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Yellen takes note of recent weak data

  • Saying she was surprised by the weakness in the last two jobs reports, Janet Yellen mentions the weather, and warns not to be too quick to jump to conclusions. “It is important to take our time to assess what the significance of this is."
  • The Fed, she says, could pause the taper should there be a significant change in the outlook. A "significant deterioration" in the outlook or the risk of deflation could force an increase in QE.
  • Live feed of the hearing
  • Previous coverage of prepared testimony
  • Stocks are at session highs, the DJIA (DIA +0.8%), the S&P 500 (SPY), and the Nasdaq 100 (QQQ +0.6%), and the 10-year Treasury yield remains higher by four basis points at 2.72%. TLT -0.6%, TBT +1%
Comments (7)
  • timbo-anti castro
    , contributor
    Comments (170) | Send Message
     
    What the FED does is now simply a matter of inevitability. There is no course for recovery because they are out of options to manipulate markets. An open ended implied bailout when the going gets rough is forever on the table to protect their bank buddies while screwing the savers, small banks, and retirees.
    The charade is coming to an end to the detriment of most people around the world.
    That is why Yellin is basically an unscrupulous stooge.
    11 Feb, 11:57 AM Reply Like
  • rcpatrick5443
    , contributor
    Comments (678) | Send Message
     
    Thanks, Timbo, for the insightful suggestions about how much better things would be if you were in charge.
    11 Feb, 12:23 PM Reply Like
  • Cameron Swinehart
    , contributor
    Comments (303) | Send Message
     
    RC,
    Thats the point. One person shouldn't have so much power....
    11 Feb, 12:40 PM Reply Like
  • notta lackey
    , contributor
    Comments (131) | Send Message
     
    We would be better with him in charge. He apparently is not a banker so he might even try to dismantle the Federal Reserve Bank ( which is not Federal, has no reserves, and is not a bank).
    11 Feb, 05:43 PM Reply Like
  • RS055
    , contributor
    Comments (1876) | Send Message
     
    Congress folks are happy , because as the distinguished gentleman from Colorado just said "markets are up today" ! heaven help us.
    11 Feb, 01:08 PM Reply Like
  • CaladesiKid2
    , contributor
    Comments (271) | Send Message
     
    Fascinates me how the so-called experts claim that QE has little impact on the equity markets. Once again, market behavior contradicts the experts. Clearly, QE has not helped the worldwide or domestic economy. Yet we have abundant evidence that Wall Street is thriving due to this largess. It is difficult to project a favorable 'unwinding' to any of this.
    11 Feb, 01:59 PM Reply Like
  • Roy Blanchard
    , contributor
    Comments (52) | Send Message
     
    But you can always blame it on the weather!!
    11 Feb, 06:23 PM Reply Like
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