US Treasury Secretary Janet Yellen at the WSJ CEO Council NOW says that she’s not predicting or recommending rates increase.
Clarifying her earlier comments, Yellen stated that she doesn’t “recommend nor predict” interest rate increases and that while she believes that “inflation will not be a problem” there are tools available, primarily by the Federal Reserve, to help mitigate any potential fallout. She also asserted that due to “structural reasons” interest rates will remain low in the future. She doesn’t see the rescue package overheating the economy. Nick Note: What a fuck up. I guarantee you her cell phone lit up after her earlier prediction of rising interest rates. She roiled the markets….. Now its full ahead reverse and damage control. That is why the DOW went for a 300 point loss to close 20 points higher. Good thing we increased our cushion. Now this has given us some bargains we can buy as the NASDAQ not only rallies but goes to new higher in fact much higher new record highs…..