As noted earlier this morning, Valentine’s Day is all about Janet Yellen on Capitol Hill.
Although SocGen’s incorrigible bear Albert Edwards speculated last week on the possibility that the vaunted Fed Chair could “brandish a machine gun†and “massacre†markets (an Al Capone reference) with a hawkish message, the chances of that seem pretty slim.
After all, we know who’s really in the driver’s seat here and it’s not the committee. So who is in charge, you ask? I’ll give you two visual hints.
Hint 1:
Hint 2:
And with that, I’ll turn it over to Bloomberg’s Richard Breslow for the full treatment.
Via Bloomberg’s Richard Breslow
With Chair Yellen set to testify today before the Senate Banking Committee, it’s amazing to me how a debate can continue to rage about how hawkish she may or may not be. That’s neither a testament to the effectiveness of the Fed’s communication strategy nor how effectively their messaging is being processed.
