FED KEEPS KEY RATES UNCHANGED; FORESEES FEWER HIKES IN 2016
Yellen foolishly made the error of raising rates at the end of last year.
"Since raising its key rate from a record low near zero in December, the Fed has held off on raising rates again in the face of market jitters and a sharp slowdown in China. Resuming its rate hikes too soon could slow growth or rattle investors again.
In her news conference, Yellen suggested that sluggish wage growth showed that many more Americans may be available and willing to work even though the unemployment rate has reached an eight-year low of 4.9 percent. If employers perceive many candidates for job openings, they don't need to offer much higher pay to attract job seekers.
"I'm somewhat surprised we're not seeing more of a pickup in wage growth," Yellen acknowledged."
Yellen comes by that silly dumbstruck look she sports honestly. Except as commentator fodder, Yellen is the worst Central banker we've had since I can remember. Perhaps she will find her feet, and pull it out, but I will believe it when I see it.
Keep it up Janet, I love your monthly humor column.