After what has been the most volatile week in the stock market for some time, Yellen elected not to address it, the state of the economy or direction of the Fed interest rate policy in a speech. She did quickly mention that the gap narrowed slightly during the Great Recession and admitted the acceleration since. Instead, she parrots the party campaign line of income inequality .... omitting response to criticism that Fed policies helped sustain the wealth gap by fueling stock gains (a theme of mine). We are told that the top 1% is now the top 3% or even 5%---does that count as wealth redistribution? I was unable to garner any real facts or an idea of direction of Fed policies from what seemed a rah-rah cheerleading type of remarks. Did I miss it, or was there no point?
Posted on: Sat, 18 Oct 2014 13:46:37 +0000
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