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Yellen’s Yelling

Posted By Barry Ritholtz On September 8, 2006 @ 11:19 am In Economy,Federal Reserve,Inflation | Comments Disabled

Frsf_1 [1]

~~~

San Francisco Federal Reserve President Janet Yellen gave a speech in Idaho yesterday. You can read it at the San Francisco Federal Reserve site [2].

I prefer Doug Kass’ overview [3] of Yellen’s speech:

1. Inflation most likely to move gradually lower.
2. Pause
prudent to allow for lags.
3. Less sanguine about labor costs than
month ago.
4. Must have bias towards further rate hikes.

5. Inflation remains uncomforably high.
6. Energy, low
savings also risks to growth.
7. Inflation may slow faster than
expected.
8. Cooling housing may damp consumer spending.
9. 
Need slowdown in growth underway.
10. Credibility requires we act
when necessary.


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URL to article: http://www.ritholtz.com/blog/2006/09/yellens-yelling/

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[1] Image: http://bigpicture.typepad.com/photos/uncategorized/frsf_1.png

[2] San Francisco Federal Reserve site: http://www.frbsf.org/news/speeches/2006/0907.html

[3] Doug Kass’ overview: http://www.thestreet.com/i/dps/lst/20060907/longshort1.html#entryId10307757

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